Downgrade Alert for Chipotle Mexican Grill (CMG)
Chipotle Mexican Grill (NYSE:CMG) was downgraded from Market Perform to Underperform at Raymond James today. The stock closed yesterday at $393.96 on volume of 1.2 million shares, above average daily volume of 1.1 million.
Chipotle Mexican Grill, Inc. owns and operates quick serve Mexican restaurants. The Company operates restaurants throughout the United states.
There is potential upside of 75.8% for shares of Chipotle Mexican Grill based on a current price of $393.96 and an average consensus analyst price target of $692.77. The stock should run into initial resistance at its 50-day moving average (MA) of $470.96 and subsequent resistance at its 200-day MA of $579.21.
Over the past year, Chipotle Mexican Grill has traded in a range of $384.77 to $758.61 and closed yesterday at $393.96, 2% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.4%.
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