Guzman y Gomez’s share price could double to $62 if it is successful in a major US push and opens 500 American stores over the next two decades, according to stockbroker Morgans.

The Mexican fast-food chain floated in June amid much fanfare and discourse about its lofty $2.2 billion valuation. It popped 36 per cent on debut from its $22 offer price, but has since drifted to $25 after falling almost 10 per cent on July 1.