Looking for Growth in Chipotle (CMG)
Today I initiated a position in Chipotle Mexican Grill (CMG). Chipolte was spun off from McDonalds during the first quarter of 2006. I personally enjoy eating at their restaurants. Chipotle is definitely popular with the college crowd. Lines are often out the door at the University of Illinois. Chipotle in 2006 has been compared to Starbux (SBUX) back in 1992. The stock has settled around $50 with about 2 points of downside. It seems to be holding $48 fairly well. Two down and ten points of upside. There is also room for upgrades as a fair number of analysts are bearish.