'I wouldn't be surprised if Chipotle can keep climbing through the end of the year,' the 'Mad Money' host says.
will be a top target on the market as money managers get ready to double down on the highest winners of 2019.this year, outperforming the broad index about 92% to 20% year-to-date.
"I feel like you're chasing if you're trying to buy it up here," he warned. "However, if you want to own Chipotle as a long-term investment, you have my blessing to start building a position here, as long as you wait for a pullback before you add to that position." Under his tutelage, Chipotle has remodeled stores, digitized services, added food items, launched a loyalty program and stepped up its marketing to millennials to drive traffic at restaurants. Digital sales almost doubled in the second quarter as same-store sales grew by 10%, topping the 8.3% increase that Wall Street analysts had ordered.
"I wouldn't be surprised if Chipotle can keep climbing through the end of the year. When they report again in about a month, they'll be going up against easy comparisons," he added.
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