On Tuesday, shares of Chipotle Mexican Grill, Inc. (CMG - Get Report) tumbled on reports that it had closed down one of its locations in Virginia due to reported illnesses from its customers. The stock ended the day down around 4.5% at $374.98, but fell as low as $362.40, less than 3% away from its 52-week low.

On Wednesday, shares are down another 0.4% in pre-market trading. Of course, there's no shortage of analyst coverage to start off the morning. But there could be one positive takeaway, that being that the low may be close.

Wells Fargo downgraded CMG stock to market perform and assigned a price target of $375, which is essentially where the stock is right now. In other words, Wells Fargo doesn't see much coming from Chipotle over the next year, worrying that its reputation is suffering and could delay the recovery in earnings and same-store sales growth.

Chipotle was also downgraded to market perform at BMO and assigned a $350 price target. This implies about 6.6% downside over the next year, also giving little reason to back up the truck for CMG stock.

However, at Telsey Advisory, the analysts upgraded the stock to buy and assigned a $440 price target, implying about 17% upside from current levels. This move is interesting -- obviously -- given that Chipotle just took a big hit and the effects are currently unknown about the store closure.

But the one positive note I took away from these three analysts is the risk/reward. With $350 being the worst of the price targets, that's really not far from current levels. While Chipotle may have trouble outperforming in the next 6 to 12 months, if it's downside is limited, it may make for an attractive stock for some investors who believe in its long-term potential.

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This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.