Chipotle Mexican Grill Seen Recovering Sales Growth in 2027, UBS Says

01:24 PM EDT, 10/15/2026 (MT Newswires) -- Chipotle Mexican Grill (CMG) is positioned for a recovery in sales growth in 2027, supported by new menu items, a marketing refresh and a planned catering rollout, despite near-term sales pressures, UBS Securities said in a note. The company is scheduled to report its Q3 results on Oct. 28. The investment firm said it expects Q3 same-store sales growth of about 1.5%, versus the 1.3% analyst consensus and company guidance of about 1%. UBS models same-store sales growth of 1.4% for 2026 and 2.6% for 2027, citing growth from menu innovation, marketing led by new chief marketing officer Fernando Machado, a revamped rewards program and the national launch of catering. The investment firm warned that sales trends could remain weak in the fourth quarter, potentially putting pressure on restaurant-level margins. It forecasts fourth-quarter restaurant-level margins of 22.8%, below the 23.4% consensus estimate, before some improvement in 2027. Chipotle should also keep opening stores at a high-single-digit rate, with its 2027 pipeline already fully built out, according to the note. UBS has a buy rating on Chipotle and a $45 price target. Price: 30.72, Change: +0.20, Percent Change: +0.65