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Chipotle could surge 14% in 2021 as continued menu innovation and higher delivery prices sustain growth, Wedbush says
Chipotle could surge 14% in 2021 as continued menu innovation and higher delivery prices sustain growth, Wedbush says
Emily GraffeoJan 12, 2021, 00:48 IST
Chipotlane.Mary Meisenzahl/Insider
Chipotle stock could surge 14% in 2021 as the fast-casual Mexican food chain continues to grow during the pandemic, said a team of
Wedbush analysts on Monday.
Drivers of growth include traction in digital and delivery sales and continued menu innovation, including the introduction of cauliflower rice and lifestyle bowls, said the analysts.
Shares of Chipotle have gained 65% over the last twelve months. The food chain climbed 1.3% on Monday.