Chipotle Mexican Grill (NYSE:CMG) last traded at 1,412.36 (+4.56). Currently, CMG is down 19% this year and appears to be greatly undervalued heading into 2023. CMG is one stock that consistently has reported strong same-store sales as incremental marketing and menu innovation for both companies contribute to top-line growth. CMG also exhibits a relatively defensive business model compared to its peers.
Besides sales, the company’s robust digital presence and loyalty program is attractive new consumers who appreciate Chipotle’s value. Some of the other investment highlights in favor of CMG include a strong balance sheet and US-only exposure also removes potential overhangs into FY23 from interest rate risk or a more challenging macro in international markets.