Barclays analyst Jeffrey Bernstein lowered the firm’s price target on Chipotle (CMG) to $53 from $55 and keeps an Equal Weight rating on the shares post the Q2 report. The company’s comp disappointed due to macro headwinds in May, but its earnings and margins were resilient, the analyst tells investors in a research note. The firm points out Chipotle’s comp turn positive to close Q2 and continued into July, helped by marketing spend and easing compares.
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