Reliable, consistent, and safe are not words typically associated with Chipotle Mexican Grill. However, that is exactly how some loyal Chipotle customers describe the franchise.
After a series of E.coli outbreaks and food safety concerns, the casual dining stock remains significantly lower than its 2015 peak. Several firms like Wedbush are strongly bearish on the stock. But Piper Jaffray is optimistic in seeing signs of brand recovery.
Wedbush has a price target of $370 on the stock; Piper Jaffray is on the end of the spectrum looking for $483 a share. Wall Street's average price target is $398.93. Eleven firms have Chipotle as a "buy", eight a "sell" and eighteen a "hold." 34.97% from December 17, 2015
While the bulls and bears dig in, the question that will solve the argument remains: who is right? Will people come back to Chipotle?
Customers at the West 48th Street location in New York City were happy to discuss why they came back. The restaurant had a dozen customers for the Thursday night dinner rush. Despite the small crowd, the customers overwhelmingly praised Chipotle.