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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.