The Center for Disease Control could soon reportedly declare that the E. coli outbreak at the burrito chain is over. Fred Katayama reports.
Some relief could be around the corner for Chipotle. The Centers for Disease Control could declare as early as Monday that the E. coli outbreak that sickened dozens of Chipotle customers is over. The Wall Street Journal also reporting that such a declaration would effectively close the CDC's investigation of the popular burrito chain. Maxim senior analyst Stephen Anderson said, "It'll reduce some of the headline risk out there, but the question mark is, we still don' t have a cause for the outbreak." That outbreak surfaced last October. It scared away diners as it spread to nine states, sickening more than 50 people. Other recent outbreaks involving norovirus and salmonella also hurt the chain's reputation. The company's once high-flying stock has gotten slammed since news of the outbreak broke, but it shot higher in early trading Monday. Bank of America Merrill Lynch just upgraded the stock to "neutral" from "underperform." Chipotle plans to boost advertising in a bid to bring back customers.