Chipotle Mexican Grill (CMG) – Get Report on Monday unveiled a new offering, cilantro-lime cauliflower rice, trying to get to take gain of consumers’ enthusiasm for balanced meals.
The cauliflower rice is manufactured with “freshly-grilled, riced cauliflower, finished with hand-chopped cilantro, lime, and salt, and organized fresh new in-cafe every day,” the Newport Beach, Calif., company reported
The possibility expenditures an extra $2 for tacos, burritos or bowls. It is out there now at U.S. and Canadian dining establishments for a constrained time.
Cilantro-lime cauliflower rice has 4 grams of internet carbs per serving. Chipotle defines web carbs as complete carbs minus dietary fiber.
Chipotle’s stock at past verify fell 4.8% to $1,320.60. It has jumped 54% around the earlier calendar year amid strong gross sales during the covid pandemic.
Morningstar analyst Nicholas Johnson likes the firm, but thinks the inventory is overvalued, putting fair value at $1,000.
“[Investors] need to prioritize all those [restaurant] companies that have the scale to be much more aggressive on pricing in the vicinity of phrase (benefit-oriented players are inclined to outperform through financial shocks) give their consumers better accessibility by way of sturdy electronic buying, supply, and push-through capabilities and have balanced harmony sheets,” he wrote last thirty day period.
“In our see, Chipotle meets these financial investment criteria. When blended with labor staffing efficiencies and streamlined operations, Chipotle carries on to produce remarkable restaurant-level income and remains effectively positioned for sizeable market share gains, as the industry recovers.”
Further, “in our view, it is very clear that [Chief Executive] Brian Niccol has restored Chipotle’s foundation and positioned the firm for over-sector development for years to appear,” Johnson claimed.