Core Insights - Chipotle Mexican Grill's shares dropped as much as 19% in morning trading after the company lowered its full-year same-store sales forecast for the third consecutive quarter, resulting in a 45% decline in stock value this year and a market capitalization of approximately $43 billion [1] - At least five Wall Street analysts have revised their price targets downward, reflecting concerns over the company's declining traffic and negative outlook [1] Sales Performance - In the third quarter, Chipotle reported a same-store sales increase of 0.3%, but experienced a decline in customer traffic [3] - The average price of Chipotle's burritos and bowls is around $10, yet consumers often perceive the average prices to be closer to $15, similar to its fast-casual competitors [3] Analyst Commentary - Citi analyst Jon Tower expressed uncertainty about the sales bottom due to various factors affecting demand, lowering his price target from $54 to $44 per share [2] - BTIG analyst Pete Saleh noted surprise at the significant traffic decline and questioned whether affordability concerns were the primary issue driving this weakness [4]