Peter Saleh | Source | Managing Director, Restaurants at BTIG
Peter Saleh
Peter is a Managing Director and BTIG Restaurants and Food Distributors Analyst. He provides comprehensive coverage across the restaurant sector. Prior to BTIG, he spent more than seven years at Telsey Advisory Group, covering restaurants.
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BTIG
Managing Director, Restaurants
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Chipotle's refocusing on smaller markets is 'another leg to the growth strategy': Analyst
Mexican fast-casual restaurant Chipotle seeks to expand its operations both internationally and domestically. Peter Saleh, BTIG Managing Director and Restaurant Analyst, outlines the chain's growth strategy for Middle Eastern franchise locations and smaller U.S. markets. Saleh also raised his price target on Domino's Pizza on the grounds of cheese commodity prices having fallen "down around 25 percent this year", stating "pizza is probably the better place to be" when facing down recession risks.
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So look, I think this is a great first move to expand into the middle east for Chipotle, kind of their first major deal in going international. Look, they've got over 3,000 restaurants here in the US. There's really no reason based on what we've seen from other restaurant operators why an international markets in total can't be the same size as the domestic business.
