Jim Cramer breaks down why he’s bullish on Chipotle Mexican Grill stock
Chipotle Mexican Grill (CMG) edged slightly higher Wednesday after Oppenheimer shared a positive outlook for the food operator’s stock — a call CNBC’s Jim Cramer agrees with.
The analysts did cut Chipotle’s price target to $2,225 per share from $2,300. But that’s still more than 20% higher than Tuesday’s close. Oppenheimer kept its outperform, buy-equivalent rating on that stock.
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Chipotle has solid fundamentals, Cramer said, citing the pros of the company owning its restaurants directly rather than franchising them out like competitor McDonald’s (MCD).
Cramer’s Charitable Trust, the portfolio used by the CNBC Investing Club, does not own Chipotle shares, but it does hold a position in Starbucks (SBUX).
Here’s a full list of the stocks in Jim’s Charitable Trust, the portfolio used by the CNBC Investing Club.
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