Chipotle Mexican Grill Q2 Sales Decline, June-July Boost Keeps Analysts Bullish

Shares of Chipotle Mexican Grill Inc (NYSE:CMG) tanked in early trading on Thursday, after the company reported a revenue miss for the second quarter.

Here are some key analyst takeaways.

RBC Capital Markets analyst Logan Reich reiterated an Outperform rating, while reducing the price target from $65 to $58.

KeyBanc Capital Markets analyst Eric Gonzalez maintained an Overweight rating, while cutting the price target from $60 to $58.

Stephens analyst Jim Salera reaffirmed an Equal-weight rating and price target of $60.

BMO Capital Markets analyst Andrew Strelzik reiterated an Outperform rating and price target of $65.

Check out other analyst stock ratings.

RBC Capital Markets: Chipotle Mexican Grill reported a 4% decline in same-store sales, which missed expectations by 112 basis points (bps), Reich said in a note. Management attributed the shortfall to "macro volatility and correlation to consumer sentiment which bottomed in May," he added.

The company's two-year comps bounced back to around 8% in June and July, with improving sentiment, the launch ...