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Top analyst: The bottom is in for Chipotle

Chipotle restaurant in New York City
Scott Mlyn | CNBC
Chipotle restaurant in New York City

Editor's note: TipRanks is a tech company that ranks analysts and financial bloggers based on their picks performance. The goal of this piece is to highlight an analyst that you likely have never heard of who has a great track record.

It's time to buy Chipotle Mexican Grill after the big share price decline, because same-store sales will recover, a top analyst on Wall Street says.

In the fourth quarter, Chipotle Mexican Grill went from being everyone's favorite burrito lunch stop to the center of a nationwide E. coli outbreak. The company on Tuesday released earnings that reflected falling sales, and disclosed that authorities had expanded a criminal probe into the company's food safety policies.

In early trading Wednesday, the stock declined.

Read MoreChipotle shares drop 6% in premarket

While many are shying away, Wells Fargo analyst Jeff Farmer just upgraded the stock from "hold" to "buy" Wednesday, citing historical evidence from similar restaurant incidents.

Farmer is a top-ranked Wall Street analyst. He has an 86 percent success rate recommending stocks with a 19.7 percent one-year average return. He is ranked in the top 6 percent of all analysts, according to TipRanks.

Here is why the analyst is bullish on Chipotle.

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