Shares of Chipotle Mexcican Grill (NYSE: CMG) have been on an absolute tear recently. The stock is up 90% year to date as the company's financial results indicate that everything is going right for the company. From soaring digital sales to successful new menu items, the fast-casual burrito company is executing well -- and customers are responding.
Analysts are responding, too. Recently, analysts have been increasing their price targets for the stock. Furthermore, now a bear is giving up his underperform rating for shares (via Barron's), leaving just three sell ratings out of a total of 26 ratings on the stock.
Here's what's behind Chipotle's momentum -- and why this analyst now thinks investors should hold their shares of the burrito chain.