Friday, July 20, 2012

Chipotle Mexican Grill (NYSE: CMG) Plunges on Slowing Sales

Chipotle Mexican Grill (NYSE: CMG) Plunges on Slowing SalesNorthern, WI 7/20/12 (StreetBeat) – Chipotle Mexican Grill (NYSE: CMG) is the biggest loser on the NYSE, with shares trading down 22.6% after touching a low of $309.01 in morning trade. It lost almost a quarter of its market value Friday after announcing a slower sales growth in Q2.

"We continue to worry about slower growth in the second half of 2012 (in the absence of) additional menu pricing, acceleration in multiyear traffic trends, or a positive margin surprise," BMO Capital Markets analyst Phillip Juhan, who cut his target price to $410 from $440, wrote in a client note.

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