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Downgrade Alert for Chipotle Mexican Grill (CMG)

By Amy Schwartz

Chipotle Mexican Grill (NYSE:CMG) was downgraded from Buy to Neutral at Cleveland Research today. The stock closed yesterday at $452.03 on volume of 744,000 shares, below average daily volume of 1.1 million.

There is potential upside of 53.3% for shares of Chipotle Mexican Grill based on a current price of $452.03 and an average consensus analyst price target of $692.77. The stock should find initial resistance at its 50-day moving average (MA) of $470.96 and further resistance at its 200-day MA of $579.21.

Chipotle Mexican Grill, Inc. owns and operates quick serve Mexican restaurants. The Company operates restaurants throughout the United states.

Chipotle Mexican Grill share prices have moved between a 52-week high of $758.61 and a 52-week low of $399.14 and closed yesterday at 13% above that low price at $452.03 per share. The 200-day and 50-day moving averages have moved 0.8% lower and 1.41% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Chipotle Mexican Grill. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chipotle Mexican Grill in search of a potential trend change.

Keywords: analyst upgrades/downgrades Chipotle Mexican Grill

Ticker(s): CMG