Jim Cramer's Mad Dash: Chipotle Deserves Highest Industry Valuation

NEW YORK (TheStreet) -- Citigroup raised its price target on shares of Chipotle Mexican Grill (CMG) from $648 to $793, according to TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio

On CNBC's "Cramer's Mad Dash," he explained that the company's 17% comparable-store sales is "remarkable," and the stock deserves the highest valuation in its industry. 

Read More: GM Isn't Alone in the Race to the 200-Mile Electric Car

"If you like Chipotle," Cramer said, play Chipotle by being long the stock. Don't look for substitutes. 

Cramer suggested investors use caution when jumping into a stock like El Pollo Loco (LOCO), even though it has acted well since its IPO last week. 

However, the stock's not necessarily cheaper than Chipotle, based on valuation, Cramer concluded. 

-- Written by Bret Kenwell in Petoskey, Mich.

Read More: El Pollo Loco Stock Surges 60% on IPO, but Is It a Buy?

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

If you liked this article you might like

What Is Chipotle Thinking?

What Is Chipotle Thinking?

Dow Soars Over 250 Points to Post Its Fourth Straight Day of Gains
Closing Bell: LIVE MARKETS BLOG

Closing Bell: LIVE MARKETS BLOG

Could Taco Bell's Old Tricks Turn Chipotle Around?

Could Taco Bell's Old Tricks Turn Chipotle Around?

Watch: Jim Cramer Reacts to Chipotle's New CEO

Watch: Jim Cramer Reacts to Chipotle's New CEO