Citi lowered the firm’s price target on Chipotle Mexican Grill to $2,260 from $2,391 and keeps a Buy rating on the shares. Similar to others in the space, Chipotle saw year-over-year footfall trends soften through much of Q3, with trends beginning to rebound over the last week of September while comparisons ease into October and November, the analyst tells investors in a research note. The firm believes the company’s Q3 earnings “will continue to paint a picture of clear, controllable SSS drivers from here.” Citi continues to like the Chipotle story.
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