澳洲幸运5官方开奖结果体彩网

These Chipotle Bulls Want the Interim CEO To Get the Job Full-Time

A Chipotle Mexican Grill restaurant sign in New York

Jeenah Moon / Bloomberg via Getty Images

Key Takeaways

  • Analysts at Oppenheimer on Monday said they would "applaud" the hiring of the Chipotle's interim CEO to the role full-time.
  • The analysts price target on the shares represents about a 13% premium to Friday's close and is in line with Wall Street's average.
  • Chipotle's stock is up this year, though off 2024 highs.

澳洲幸运5官方开奖结果体彩网: Time to tear off the teꦚmporary tag. 

That's the take of the Chipotle Mexican Grill (CMG) analysts at Oppenheimer, who on Monday reiterated an "outperform" rating and a $65 price tag that is about 13% over Friday's close and about in line with the Wall Street average, per Visible Alpha data. The burrito chain in August 澳洲幸运5官方开奖结果体彩网:named COO Scott Boatwright its interim CEO after 澳洲幸运5官方开奖结果体彩网:Brian Niccol departed for Starbucks (SBUX). 

"We don't view the CEO change as a meaningful risk-factor with (Chipotle's) deep bench set to execute the company's strategy without interruption," Oppenheimer wrote. "We believe Scott Boatwright is well-positioned to become permanent CEO, a move we would applaud."

Shares of Chipotle, up about 25% in 2024, slipped in the wake of Niccol's move to Starbucks but have since recovered that ground. They were edging upward in recent trading today, holding below year-to-date highs.

Analysts Say Boatwright 'Has Been Instrumental' in Chipotle's Strategy

Boatright "has been instrumental in (Chipotle's) turnaround/growth strategy since 2017," the analysts wrote. "We believe he has internal backing and would keep a highly-incentivized executive bench in place equipped with the tools to sustain (Chipotle's) momentum."

The company is set to report its first round of quarterly results post-Niccol next month, with a release scheduled for after the market's close on Oct. 29. Since Niccol left, Chipotle has continued issuing a stream of announcements reflecting its recent priorities, including 澳洲幸运5官方开奖结果体彩网:kitchen efficiency and promotional menu items.

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  1. Oppenheimer. "A Spicier Setup."

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