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.
Published first on TheFly
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