Chipotle Mexican Grill, Inc. (NYSE:CMG) shares have more than 22.11 percent upside potential from the existing levels. This is based on the revised price target of Wedbush at $ 1600.00 on the stock. Incidentally, the brokerage raised its price objective by $ 280 from its earlier level of $ 1320.00. However, Wedbush has maintained its Outperform rating on the stock, Benzinga reported.
Shares of Chipotle Mexican Grill, Inc. traded up $ 41.30 or 3.15 percent on Tuesday, reaching $ 1,351.59 with volume of 155.60 thousand shares. The stock opened positive for the day at $ 1,325.00, after closing the previous day trading at $ 1,310.28. According to the previous trading day, closing price of $ 1,310.28, representing a 215.73 % increase from the 52 week low of $ 415.00 and a 3.08 % decrease over the 52 week high of $ 1351.90.
With respect to the key metrics, Chipotle Mexican Grill, Inc. stock has advanced $ 398.61 or 42.00 percent, reaching $ 952.97 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 167.93 or 14.00 percent, before arriving at $ 1,183.66 during the SMA50-day period.
Chipotle Mexican Grill, Inc., together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.
