Chipotle's Growth Remains Envy of Restaurant Stocks
Chipotle also reaffirmed its full-year guidance to open 155 to 165 new restaurants in 2012. For this quarter, the company added 32 new restaurants including one in Toronto, Canada. The total number of restaurants now stands at 1,262.
We have a $428 price estimate for Chipotle, which is slightly below the current market price. We are in the process of revising our estimates to incorporate Q1 earnings.
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