Jim Cramer on Chipotle: “It Might Actually Bounce Even If the Quarter Isn’t Spectacular”

Chipotle Mexican Grill, Inc. (NYSE:CMG) is one of the stocks on Jim Cramer’s recent game plan. Cramer mentioned the stock during the episode and remarked:

Chipotle reports, too. Now, this one’s so low, it might actually bounce even if the quarter isn’t spectacular, which it’s probably not, but it doesn’t matter, it’s too low.

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Chipotle Mexican Grill, Inc. (NYSE:CMG) owns and operates restaurants that provide burritos, bowls, tacos, salads, and other menu items. A caller sought Cramer’s advice on the stock during the January 27 episode, and he commented:

You know, a lot of people are warming up to Chipotle down here. It has had such a decline. It only sells for 34 times earnings. I say only because I’ve seen it at a much higher price-to-earnings multiple. I think it’s actually at a decent level to put some stock on. They have a report on Feb 3rd. Remember, it might go back down to that $30 low, and you might have to buy a little more. But wow, what a good franchise at a very reduced price.

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Disclosure: None. This article is originally published at Insider Monkey.