Chipotle’s Stock Sizzles: Hits Record High After Stellar Q1 Earnings, Charts Indicate Further Bullish Momentum
Chipotle Mexican Grill, Inc. (NYSE:CMG) stock just recorded a new all-time high of $3,199.99 during trading on April 26.
Stellar Q1 Earnings Wins Praise From Jim Cramer
The stock has positive momentum since the end of October 2023. Over the past six months, Chipotle stock was up over 75%. It kept momentum into 2024 with the stock up over 39% YTD.
The company reported first-quarter earnings on Wednesday, after market hours. The surprise of 14.47% on EPS and 1.20% on revenue estimates sent the stock soaring. Chipotle’s earnings report added fuel to send the stock up over 8% since Wednesday.
Jim Cramer praised Chipotle recently on CNBC’s “Mad Money,” highlighting its successful “self-help” strategy amid economic challenges. He emphasized Chipotle’s focus on improving throughput, which has nothing to do with broader economic conditions.
Several Analysts Raise Their Price Targets On Chipotle Stock
Post first-quarter earnings, Chipotle stock was also boosted by several analysts raising their price targets on the stock.
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