News for Chipotle Mexican Grill
Jan 14 · 2:09:00 PM
Wells Fargo upgraded Chipotle Mexican Grill from Underperform to Perform.
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by Rich Pike
Jan 13 · 7:21:00 AM · Source: Restaurant News
Restaurant News is reporting that Chipotle Mexican Grill Inc. has introduced a new prototype that it said costs less to build and operate and uses less energy to maintain, while also providing the opportunity for increased sales volumes.
As part of a refresher to the Denver-based company’s more than 900-unit chain, Chipotle said Tuesday its new restaurant design has a kitchen that has been reduced in size by 25 percent and a price tag that has been cut by $25,000.
With a smaller footprint, the new prototype also can help Chipotle fill in smaller markets because the unit will have lower development costs, but the same return on investment, the company said. Chipotle plans to open between 120 and 130 new locations in 2010, and at least 32 of those will be this new prototype.
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by Rich Pike
Jan 11 · 3:35:00 PM · Source: StreetInsider.com
Deutsche Bank upgraded Chipotle Mexican Grill Inc. from Hold to Buy.
Deutsche analyst said "We highlight 3 reasons for our upgrade: (1) leverage to an improving macro environment, which could drive upside to comps and EPS, (2) strong balance sheet and cash flow, and (3) reasonable valuation, particularly considering the lack of growth stories in the restaurant sector. We're raising our EPS ests. 2009E goes to $3.75 from $3.69. 2010E goes to $4.11 from $3.93.
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by Rich Pike
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