Jim Cramer of CNBC said on Wednesday that he is positive on Chipotle and believes the company is about to break out to the upside. “This one is finished. Chipotle’s already risen well off its lows, but after five months of basically trading sideways, it’s a coiled spring,” the “Mad Money” host remarked. The fast-casual restaurant chain’s stock last finished at $1,550.34, up more than 18 percent in the last six weeks, putting it on track to complete the first half of 2021 near the highs. After a strong run last year, the stock has slowed, but Cramer believes it will pick up steam again in the second half of 2021. “I’m wagering that if the stock can move another 20 or 30 points from here, it will create a big breakout, and people will ‘buy, buy, buy’ Chipotle stock,” Cramer said. “I’m sure CEO Brian Niccol has no qualms about defying Wall Street’s predictions. That’s how good he is.” According to Factset statistics, analysts estimate Chipotle to earn $24 per share this year, more than double the $10.73 per share it earned in 2020. The stock was selling at a price-to-earnings multiple of 63 as of Wednesday’s close. Cramer ignored what he saw as an overvaluation of the stock, predicting that the firm will continue to outperform existing expectations, making the stock more appealing at present levels. “While the stock isn’t cheap,” Cramer explained, “Chipotle has a propensity of seeming a lot cheaper in retrospect since the estimates keep growing.” “The company continues to put up good statistics, and I believe the concerns about food price inflation and labor expenses — which harmed the stock in the first place — are now baked into it,” he added. DisclaimerDo you have any questions for Cramer? Cramer may be reached at 1-800-743-CNBC. Interested in learning more about Cramer’s world? Make contact with him! Money that’s out of control Jim Cramer on Twitter Twitter, Facebook, and Instagram are three of the most popular social media platforms. If you have any questions, comments, or recommendations for the “Mad Money” website, please send them to madcap@cnbc.com./nRead More