Another bruising price target cut arrives on Chipotle (NYSE:CMG) from Wall Street.
Thisi time around it's RBC Capital warning on elevated labor costs and a disappointing impact from the queso introduction on the level of same-store sales.
Analyst David Palmer lowers profit estimates Chipotle for 2017 through 2019 due to the lack of confidence. His new price target is $330, down from $400. Shares of Chipotle are up 0.22% to $326.00 in light premarket trading.
Previously: BAML warns on Chipotle's labor costs (Oct. 18)
Now read: Chipotle: Cause For Optimism »
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