Open Position #2
CMG --- $236.55
11/10/10
Target $210, stop $250
Technicals --> CMG has appreciated by over $70 points recently. The stock has only moved that magnitude one other time, it then fell by $27 points
Wall Street --> 16 firms follow CMG and have an average target of $205 -- http://finance.yahoo.com/q/ao?s=CMG+Analyst+Opinion
Fundamentals --> CMG trades at roughly 40 times 2011 earnings, a very high p/e for a restaurant stock. Growth is estimated at 15.9% next year.
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