Chipotle Rallies After Data Researcher Predicts Sales Surprise
- M Science says results will ‘easily beat’ consenus estimates
- Chipotle investors have been waiting for rebound after crisis
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Chipotle Mexican Grill Inc. shares rose the most in almost six weeks after data-analysis firm M Science predicted that first-quarter sales will “easily beat” Wall Street’s estimates, bringing a ray of optimism to a chain battered by a food-safety crisis.
The researcher studied same-store sales during February and the first 10 days of March, according to M Science Chief Executive Officer Michael Marrale. The firm made the call based on multiple data sets and proprietary models, he said.