Wall Street slashes targets on Chipotle
- 8 years ago
From the carnitas crisis of early 2015 to the more recent E. Coli outbreak.
And now, tough love from Wall Street.
Chipotle Mexican Grill Inc's (CMG.
N) shareholders have never had it so bad.
At least six brokerages slashed their price targets on the burrito chain operator's stock on Thursday, a day after the company said it was served with a grand jury subpoena related to a probe into a norovirus incident at one of its restaurants.
Chipotle's stock, once a Wall Street darling, has lost a third of its value since the end of October, when an E. Coli outbreak linked to its restaurants was first reported.
The shares were down 1.6 percent at $420.02 on Thursday.
Chipotle's announcement on Wednesday highlighted deepening problems at the chain, which has been plagued by a spate of food-borne illnesses among other issues since October.
And now, tough love from Wall Street.
Chipotle Mexican Grill Inc's (CMG.
N) shareholders have never had it so bad.
At least six brokerages slashed their price targets on the burrito chain operator's stock on Thursday, a day after the company said it was served with a grand jury subpoena related to a probe into a norovirus incident at one of its restaurants.
Chipotle's stock, once a Wall Street darling, has lost a third of its value since the end of October, when an E. Coli outbreak linked to its restaurants was first reported.
The shares were down 1.6 percent at $420.02 on Thursday.
Chipotle's announcement on Wednesday highlighted deepening problems at the chain, which has been plagued by a spate of food-borne illnesses among other issues since October.