Stifel analyst Chris O’Cull lowered the firm’s price target on Chipotle (CMG) to $50 from $60 and keeps a Buy rating on the shares. Chipotle’s Q3 results were “weak,” but the firm believes this quarter could represent a clearing event for the stock with five consecutive sales misses potentially behind them, depending on where 2026 EPS estimates land, the analyst tells investors. The firm believes management has set “a more achievable bar” for Q4 and notes that it signaled a willingness to reinvest margin into the business to drive sales in 2026.
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