Here comes Chipotle...

Ethel Jiang

Oct 26, 2018, 01:08 IST

chipotle/Instagram

Chipotle burrito.

Chipotle is set to report third-quarter earnings after Thursday's closing bell.
Shares of the fast-casual burrito chain jumped 3% ahead of the results.
Watch Chipotle trade in real time here.

Chipotle is set to report third-quarter earnings after Thursday's closing bell. Shares jumped 3% ahead of results.

Here's what Wall Street is looking for, according to analysts surveyed by Bloomberg:

Earnings: $2.01 per share.
Revenue: $1.24 billion.

Ahead of the results, RBC analyst David Palmer was bullish on the burrito chain.

"We believe 2019 will be characterized by menu innovation, digital initiatives, and a focus on improving restaurant margins," said Palmer.

"Our survey work demonstrates significant upside from menu and digital/delivery opportunities-and we believe this management team will increasingly execute against these in 2019. We believe the recent pullback has created an acceptable entry point (at 28x 2020e EPS)."

He recently upgraded Chipotle to "outperform" and lifted his price target to $510 from $450.

Shares were up 44% this year through Thursday.