The 7.5% fall Chipotle (CMG) 澳洲幸运5官方开奖结果体彩网:shares took Tuesday following the news that CEO Brian Niccol will 澳洲幸运5官方开奖结果体彩网:leave for the top job at Starbucks (SBUX) puts the stock in a good position for investors to buy, a number of ana꧟lysts said.

Wedbush analysts upgraded the stock and lifted their price target to $58 from $54 for Chipotle Wednesday, citing the chain's "compelling growth drivers." Meanwhile, analysts from Raymond James and Baird 澳洲幸运5官方开奖结果体彩网:said Tuesday that the news provides a near-term negative for the stock, but an executive shakeup doesn't change existing growth factors like 澳洲幸运5官方开奖结果体彩网:sales momentum that have lifted 澳洲幸运5官方开奖结果体彩网:recent earnings reports.

Tuesday's Pullback Could Provide 'Attractive Buying Opportunity'

"While we await further details on who will be permanent CEO, this pullback could create an attractive buying opportunity as we believe the company’s strong sales momentum (positive traffic), operations (throughput, automation), and long-term unit growth opportunity remains firmly intact," Raymond James analyst Brian Vaccaro wrote.

The chain still has an experienced executive team in place after Niccol departs, and is poised to "sustain market share gains in a more challenging macro backdrop for restaurants," Wedbush analysts wrote.

Chipotle has been able to weather the recent pullback on restaurant spending thanks to a strong value proposition compared to some of its fast food competitors, analysts have said in recent months. Strong sales have helped Chipotle withstand the industry's recent 澳洲幸运5官方开奖结果体彩网:pivot to emphasizing value.

Chipotle shares were recently down about 0.6%.