Deutsche Bank: Shares of Chipotle Will Fall 24 Percent Over the Next Year
The worst isn't over.
Chipotle: The Complete History in About Three Minutes
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While shares of Chipotle Mexican Grill Inc. have recovered a bit after bottoming under $400 in January—after tumbling from an all-time high of $758 reached just five months earlier—analysts at Deutsche Bank AG say investors shouldn't expect the stock to make new highs in the near future.
In fact, they're downgrading the stock to "sell" status while maintaining a 12-month price target of $400, in effect forecasting that shares will fall a further 24 percent from the current level.