The fast casual rival to Panera (PNRA) , which also reports tomorrow, has been plagued by food safety issues through the end of 2015 into early 2016, scaring off customers.
"We need to see some return to same-store [sales]," said Jim Cramer, TheStreet's founder and manager of the Action Alerts PLUS portfolio.
As to whether Chipotle is a sound investment, Cramer is emphatic: "I've been saying buy it under $450, buy it around $400. I'm not deviating on that at all."
The purveyor of Mexican-inspired food is currently trading at between $440 to $450 per share.
"Starbucks is one of those of those stocks that is a high multiple stock, and those are for sale right now," said Cramer, who owns Starbucks in the AAP portfolio.
Meanwhile, Panera will report its results as its stock is having a strong run.
According to Cramer, the stock has "had a monster move."
The restaurant chai, which is also a part of AAP, has seen its shares rise from a 52-week-low of about $165 per share to its recent close of $215 per share on Friday.
"This was our stock pick of the year for Action Alerts ... so far we're doing pretty well," Cramer said.
He added a caveat, however: "If you haven't bought it yet, maybe you want to wait to see what the quarter is, because sometimes these stocks can trade erratically. It's a very thin stock."
In light of food safety issues at Chipotle, Cramer noted, "Panera to some degree has been a beneficiary of Chipotle's problems," Cramer said.