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Chipotle dips after Morgan Stanley downgrade

Apr. 17, 2019 8:21 AM ETChipotle Mexican Grill, Inc. (CMG) StockCMGBy: Clark Schultz, SA News Editor6 Comments
  • Chipotle (NYSE:CMG) drifts 1.24% lower in premarket trading after Morgan Stanley pops in with a downgrade tied to valuation.
  • "A significant run up in the share price (+65% YTD and more than doubling in the past year) leaves CMG close to our bull case, which could still take 2-3 years to fully play out," warns MS analyst John Glass.
  • "We remain constructive on fundamentals, but see less upside for the stock," adds Glass.

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