Chipotle Mexican Grill Inc. kicked off restaurant earnings season after market close Thursday, reporting transaction growth through its third quarter, despite swirling concerns about consumer spending.
Speaking during a conference call to discuss the results Thursday, Chipotle CEO Brian Niccol said that the company’s transaction throughput showed improvement every month during the third quarter. Raymond James reiterated its outperform rating for Chipotle in a note released Friday. “Combined with accelerating unit growth in 2024 on its way towards 10% into 2025E, we continue to view CMG as one of the more compelling secular growth stories within the restaurant sector,” wrote Raymond James analyst Brian Vaccaro.
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