Financial analyst Mark Kalinowski of Janney Capital Markets raised his rating for Chipotle Mexican Grill to “Buy” from “Neutral” on Friday.
Part of his rationale was that the restaurant operator has a promising opportunity to expand into offering breakfast.
Even though Chipotle currently does not have any plans to introduce breakfast items, he expects that the company may wind up introducing a breakfast menu.
Part of the reason is that Chipotle is testing coffee sales in one of its Washington, D.C., locations, which may be a precursor to the chain testing breakfast goods somewhere down the line.
Kalinowski thinks that both coffee and breakfast could potentially go nationwide in the future, but has no indication as to the timing of such possible rollouts.