Chipotle price target lowered to $1,925 from $1,950 at BMO Capital

BMO Capital lowered the firm’s price target on Chipotle to $1,925 from $1,950 and keeps a Market Perform rating on the shares. While the management reiterated all annual guidance metrics, its Q3 outlook was below consensus and the trajectory could be at an inflection with pricing rolling off that would make it harder to count on earnings upside that is likely needed to support the shares at recent levels, the analyst tells investors in a research note.