RBC Capital analyst Christopher Carill lowered the firm’s price target on Chipotle to $1,850 from $1,900 but keeps an Outperform rating on the shares. The company’s Q4 comps missed consensus expectations, but positive transactions to begin 2023 will likely be viewed as transitory against easing Omicron- and weather-impacted year-ago comparisons, the analyst tells investors in a research note. The stock enjoyed a strong start to the year, but there is potential for Chipotle to remain range-bound in the very near-term following the Q4 top line and margin miss, the firm adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CMG:
- Chipotle price target raised to $2050 from $1950 at Cowen
- Chipotle price target raised to $2,050 from $1,950 at Credit Suisse
- Chipotle price target raised to $2,080 from $1,800 at Wedbush
- Chipotle price target raised to $1,800 from $1,600 at BMO Capital
- Chipotle price target raised to $1900 from $1800 at Baird