If youre waiting for Chipotle Mexican Grill (CMG) to recover from last year’s E. coli and salmonella outbreaks, dont hold your breath.
Chipotle is expected to report second-quarter earnings in mid-to-late July. William Brinson
Thats the warning from Morgan Stanley analyst John Glass. He downgraded the fast-casual chain of Mexican eateries to an equal weight from an overweight and cut the price target to $405 from $500, citing new evidence that a sales recovery could prove to be far more protracted than the Street expects.
Glass cited the results of a consumer survey....More>>>