Chipotle Mexican Grill Inc.'s stock price target got a 40% boost at Stifel Nicolaus on Friday, with analyst Chris O'Cull saying he believes the momentum the fast-casual Mexican food chain saw in the fourth quarter has likely built in the first quarter. O'Cull raised his price target to $700, which is 0.5% below Thursday's closing price, from $500, while reiterating his hold rating. He raised his 2019 earnings-per-share estimate to $13.00 from $12.20 and his 2020 EPS estimate to $16.00 from $14.00, compared with the FactSet EPS consensus of $12.34 for 2019 and $15.61 for 2020. "Many of the factors benefiting December [same-restaurant-sales] performance should have been amplified in 1Q19, with greater [year-over-year] spend to support another new advertising campaign and expansion of digital ordering and delivery," O'Cull wrote in a note to clients. The stock, which was still inactive in premarket trade, has soared 63% year to date, while the S&P 500 has gained 15%.
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