Chipotle Mexican Grill (CMG) is well-positioned to outperform in various macroeconomic scenarios and deliver margin improvement this year given its pricing power, RBC Capital Markets said in a note sent Tuesday.
The firm said Chipotle is its "top restaurant pick" for 2025.
"We expect CMG's top line to outperform restaurants broadly in multiple macro scenarios given quality and value positioning relative to competitors," RBC said ahead of the company's Q4 results, expected to be released on Feb. 4.
Enhancements in store operations are expected to yield incremental margin benefits, the firm said, noting that it expects a "steeper ramp than consensus."
RBC, however, said weather-related traffic disruptions at the start of the year could prompt some caution that may be reflected in the company's initial 2025 guidance.
RBC reiterated its outperform rating on the stock with a $75 price target.
Price: 57.32, Change: -0.98, Percent Change: -1.68
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