Jim Cramer: Take a Long Term View on Chipotle

TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer said Chipotle (CMG) will come back from its devastating E.coli outbreak. ‘Chipotle put out an 8-K [on Tuesday] night and a lot of people are freaking out,’ Cramer said. In the filing, the company said it expects a first quarter loss of at least $1 a share. ‘The numbers were actually coming back until that last instance where they had to close this one store in Massachusetts for a day and the numbers went back down,’ Cramer said. ‘I say take a long term view on Chipotle. I still believe that in the $400s, you can buy the stock because Taco Bell came back and Jack in the Box came back – Chipotle will come back.’ Jack in the Box (JACK) is a holding of Action Alerts PLUS.