New York, Jan 22, 2026, 5:01 AM EST — Premarket
Chipotle Mexican Grill shares edged up about 0.4% to $40.87 in premarket trade Thursday, following a 4.4% surge in the previous session. 1
This shift is significant since CMG has become a barometer for fast-casual demand and pricing strength. Investors are now debating if this week’s rebound marks only a temporary relief or the beginning of a more sustained uptrend.
This jumpstarts a brief lead-up to the next round of restaurant earnings, as traders look for clues that customer traffic is holding steady without a surge in discounts.
Raymond James bumped up its price target for Chipotle to $45 from $40, maintaining an outperform rating. The firm highlighted robust year-to-date gains among restaurant stocks. It also noted that short covering — where investors buy back shares to close out bets against a stock — can amplify price swings, even if the fundamentals aren’t fully aligned. 2
Chipotle jumped 4.41% on Wednesday, closing at $40.72 and ending a three-day slide amid a generally stronger U.S. market. Still, the stock remains roughly 32% below its 52-week peak of $59.57. Trading volume topped its 50-day average, signaling that this bounce attracted significant investor interest. 3
CMG dropped 2.40% to $39.00 Tuesday amid a broader slide in major indexes, highlighting the swift shifts in sentiment around the sector. McDonald’s and Yum Brands also saw declines, while Starbucks managed a slight uptick. 4
Chipotle rolled out a one-day buy-one-get-one deal Wednesday at its Indiana locations, marking a local championship celebration. “This team’s historic run has energized fans across the state,” said Stephanie Perdue, interim Chief Marketing Officer. 5
The broader backdrop is looking favorable. Restaurant stocks have surged early in 2026, buoyed by rising consumer confidence and simpler comparisons following a challenging 2025, Investor’s Business Daily noted. 6
Still, the stock hasn’t carved out much of a buffer. If earnings or guidance rely heavily on promotions to drive orders, or if rising food and labor expenses tighten margins, the bounce could vanish quickly.
Investors are zeroing in on same-store sales, which track growth at restaurants open for at least a year, while watching closely for any remarks on customer traffic, menu pricing, and how fast new locations are launching.
Chipotle’s fourth-quarter and full-year earnings drop Feb. 3, with a conference call slated for 4:30 p.m. Eastern. 7
