CMG Stock Drops After TD Cowen Downgrade Ahead Of Earnings, Analyst Warns Of ‘Challenging’ 2027

Chipotle Mexican Grill (CMG) shares fell 5% after TD Cowen downgraded it to 'Hold' and cut its price target to $32. Deutsche Bank also lowered its target to $45 but kept a 'Buy' rating. Analysts expect Q3 revenue of $3.28B and EPS of $0.29. TD Cowen forecasts below-consensus same-store sales for Q4 and 2027, citing sales challenges.

Chipotle shares fell 4.1% after TD Cowen downgraded the stock to Hold from Buy, cutting its price target to $32 from $44. The firm expects Q3 results to slightly beat estimates but anticipates weaker-than-expected Q4 sales. TD Cowen now models same-store sales below consensus for Q4 and 2027, citing unproven sales drivers. Chipotle reports Q3 results on Oct. 28, with Q4 sales update being key.

TD Cowen downgraded Chipotle (CMG) to Hold, cutting its price target to $32. Chipotle's stock fell 5% to $28.21, while McDonald's (MCD) and Yum! Brands (YUM) each dropped 1%. Chipotle cited slower sales growth and food-safety issues as challenges, with its Q3 report being a key test for recovery.

TD Cowen downgraded Chipotle (CMG) to Hold from Buy, cutting its price target to $32 from $44. Analyst Andrew Charles cited weak October sales data, forecasting lower-than-expected same-store sales growth for Q4 2026 and 2027. The firm now expects 1% Q4 2026 growth, below consensus of 3.2%.

TD Cowen downgraded Chipotle (CMG) to Hold, citing Q4 sales concerns and lowering its price target to $32. Shares fell 1.9% premarket. Despite this, GuruFocus values CMG at $60.68, suggesting 52.9% undervaluation. Insiders have sold $7.2M in shares over the past year.

TD Cowen downgraded Chipotle (CMG) to Hold from Buy, citing weaker-than-expected October sales momentum. The firm expects Q3 results to slightly exceed consensus but sees risks in Q4.