Stephens keeps an Equal Weight rating on Chipotle (CMG) after the company appointed Scott Boatwright as CEO. Boatwright brings a “strong operational background coupled with deep experience regarding company culture and internal intricacies,” the analyst tells investors in a research note. The firm believes Chipotle has one of the strongest company cultures among its restaurant peers and finds it encouraging that Jack Hartung will remain in a leadership position to help the transition.
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