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.

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.