Chipotle price target lowered to $1,981 from $2,075 at Piper Sandler

Piper Sandler analyst Brian Mullan lowered the firm’s price target on Chipotle to $1,981 from $2,075 and keeps a Neutral rating on the shares post the Q2 results. The shares are trading lower as the company’s guidance for Q3 same-store-sales missed buy-side expectations, the analyst tells investors in a research note. The read-through is that buy-side numbers likely come down a bit post print, and sell-side consensus numbers likely won’t be going up, says the firm.