Why Chipotle Mexican Grill (CMG) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Chipotle Mexican Grill (CMG) are surging, up 12.29% to $662.44, after the restaurant company reported a 25.5% increase in net income to $110.3 million for the 2014 second quarter, over the same period last year.

The company's diluted earnings per share was $3.50, a 24.1% increase from the last year's second quarter.

Revenue was $1.05 billion, 28.6% higher than the same quarter a year ago.

 

This morning, Barclays (BCS) increased its price target on Chipotle to $690 from $600.

Jefferies Group (JEF) raised its price target on Chipotle to $600 from $535.

CMG ChartCMG data by YCharts

 

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