After being a strong performer the past few years, shares of Chipotle Mexican Grill ( CMG -2.51%) have gone from being hot to mild over the past year. The stock is down more than 12% year to date and is about break-even over the past year, as of this writing.

Investors should look past near-term headwinds and buy the stock of Chipotle Mexican Grill (CMG), says investment bank Morgan Stanley

We believe that Chipotle Mexican Grill continues to execute well in a challenging macroeconomic environment. Read why we remain bullish on CMG stock.

Shares of restaurant chain Chipotle have 26% upside, according to Morgan Stanley, which upgraded the stock to Overweight from Equal Weight.