Chipotle Mexican Grill, Inc.(CMG) Continues To Be Rated As An Underperform

Analyst Matthew DiFrisco at Oppenheimer (NYSE: OPY) has released an update on Chipotle Mexican Grill, Inc. (NYSE: CMG). The company reported better-than-expected results for the fourth-quarter due to better restaurant margins, and constrained G&A.

The company has maintained its guidance of flat same-store sales in 2010. Oppenheimer believes that the guidance is conservative given the positive traffic in January, easing year-over-year comparisons ahead, and a gradually improving economy.

However, the disparity with Panera Bread Company (NASDAQ: PNRA), which issued a strong guidance for 2010, highlights Chipotle’s relative lack of traffic drivers, according to Oppenheimer.

Oppenheimer continues to rate Chipotle Mexican Grill, Inc. as an Underperform.