Time to Buy Chipotle?
Chipotle’s still got what it takes, Cramer said Friday.
The restaurant company delivered a “fantastic quarter” after the bell Thursday, reporting a 6 cents earning beat on a $1.84 basis on stronger-than-expected revenue that rose 24.1 percent year-over-year.
“This is so much more than a fast food joint,” Cramer said, “even a high-quality one.”
He likes the company’s emphasis on creating a “food culture,” and feels it has built a real connection with its customers.
While analysts are concerned about input costs, the “Mad Money” host isn’t worried because he thinks Chipotle has incredible pricing power.
“Yes, Chipotle’s expensive here, selling at 38 times next year’s numbers,” he said. “And there are concerns. But no, I’m not worried anymore. Not after this quarter.”
To get a better read on the quarter and where the company is headed, Cramer sat down with CEO Monty Moran.
To see the full interview, watch the video!
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