Selected stock price target news of the day - April 25th, 2024

By: Matthew Otto

Chipotle Fires Up with Quarterly Performance and Growth Plans

Chipotle Mexican Grill quarterly earnings report showcased adjusted earnings per share standing at $13.37. This surpassed the anticipated $11.68. Net income also hit $359.3 million, an increase from the previous year’s $291.6 million.

Moreover, revenue of $2.7 billion, slightly edging out the expected $2.68 billion, coupled with a 7% surge in same-store sales. This growth is underscored by a 5.4% rise in traffic, outpacing industry standards, while the average check increased by 1.6%.

Chipotle’s plans to add 47 new locations during the period and a long-term goal of doubling its restaurant count to 7,000.

Analysts Bullish, Raise Price Targets Following Performance

Wells Fargo analyst Zachary Fadem maintained an Overweight rating yet raised the price target to $3300 from $3285.
Piper Sandler analyst Brian Mullan kept a Neutral rating and increased the price target to $3070 from $2442.
Oppenheimer analyst Brian Bittner reiterated an Outperform rating and upgraded the price target to $3300 from $2825.
Wedbush analyst Nick Setyan maintained a Neutral rating and lifted the price target to $3200 from $2850.
Baird analyst David Tarantino kept an Outperform rating yet raised the price target to $3500 from $3250.
Stephens & Co. analyst Jim Salera maintained an Equal-Weight rating and boosted the price target to $3050 from $3010.
TD Cowen analyst Andrew Charles affirmed a Buy rating and raised the price target to $3500 from $3400.

Which Analyst has the best track record to show on CMG?

Analyst Chris O’cull (STIFEL) currently has the highest performing score on CMG with 19/23 (82.61%) price target fulfillment ratio. His price targets carry an average of $279.31 (9.34%) potential upside. Chipotle Mexican Grill stock price reaches these price targets on average within 108 days.

General Motors Reports Q1 2024 Financial Results, Highlights Growth in EV Segment

General Motors delivered financial performance in the first quarter of 2024, with revenue climbing 8% to $43 billion compared to the same period last year. Mary Barra, GM’s Chair and CEO, underscored 10.6% EBIT margin in North America, attributing it to sales of full-size pickups and SUVs, as well as growth in the EV segment. GM’s adjusted automotive free cash flow surged to $1.1 billion, marking an increase from the previous year.

Paul Jacobson, GM’s Executive Vice President and CFO, highlighted GM’s EV initiatives, with wholesale of Ultium-based EVs soaring to 22,000 units in Q1, up from less than 2,000 units a year ago. These financial results have prompted GM to raise its full-year guidance, with EBIT adjusted now projected to be in the $12.5 billion to $14.5 billion range.

Analysts Diverse Outlooks, With Price Targets Varied Perspectives

Bernstein analyst Daniel Roeska initiated coverage with an Outperform rating and announced a Price Target of $55.
RBC Capital analyst Tom Narayan maintained an Outperform rating and raised the price target from $56 to $58.
Citigroup analyst Itay Michaeli maintained a Buy rating yet increased the price target from $95 to $96.
UBS analyst Patrick Hummel kept a Buy rating and upgraded the price target from $56 to $58.
Wells Fargo analyst Colin Langan reiterated an Underweight rating and increased the price target from $28 to $30.

Which Analyst has the best track record to show on GM?

Analyst Adrian Yanoshik (BERENBERG) currently has the highest performing score on GM with 2/3 (66.67%) price target fulfillment ratio. His price targets carry an average of $5.4 (15.61%) potential upside. General Motors stock price reaches these price targets on average within 22 days.

Meta Surpasses Expectations with Q1 Earnings, But Revenue Guidance Dampens Investor Sentiment

Meta’s first-quarter earnings report showcased earnings per share of $4.71 and revenue totaling $36.46 billion. These figures surpassed analysts’ expectations, who had predicted earnings per share of $4.32 and revenue of $36.16 billion. Looking forward, Meta provided revenue guidance for the second quarter in the range of $36.5 billion to $39 billion, with the midpoint falling short of analysts’ average estimate of $38.3 billion.

Analysts still continue to express confidence in Meta’s long-term prospects. JPMorgan analysts reiterated an overweight rating while revising their price target from $535 to $480, citing the company’s robust competitive position and strategic focus on user experience. Similarly, analysts at Bernstein maintained an outperform rating and reduced their price target to $565 from $590, highlighting Meta’s resilience and potential for long-term growth amid ongoing market challenges.

Analysts Adjust Price Targets Amid Earnings Review

JP Morgan analyst Doug Anmuth maintained an Overweight rating yet lowered the price target from $535 to $480.
Jefferies analyst Brent Thill maintained a Buy rating and decreased the price target from $585 to $540.
Piper Sandler analyst Thomas Champion reiterated an Overweight rating while lowering the price target from $600 to $545.
Canaccord Genuity analyst Maria Ripps maintained a Buy rating and downgraded the price target from $610 to $575.
Oppenheimer analyst Jason Helfstein maintained an Outperform rating yet lowered the price target from $585 to $500.
Wedbush analyst Scott Devitt kept an Outperform rating and lowered the price target from $570 to $480.
Needham analyst Laura Martin reiterated an Underperform rating.
Wolfe Research analyst Deepak Mathivanan reiterated an Outperform rating and lowered the price target from $530 to $500.
Goldman Sachs analyst Eric Sheridan maintained a Buy rating yet decreased the price target from $555 to $500.

Which Analyst has the best track record to show on META?

Analyst Thomas Champion (PIPER SANDLER) currently has the highest performing score on META with 19/21 (90.48%) price target fulfillment ratio. His price targets carry an average of $76.84 (14.69%) potential upside. Meta Platform stock price reaches these price targets on average within 243 days.