Chipotle price target lowered to $55 from $58 at Barclays

Barclays lowered the firm’s price target on Chipotle to $55 from $58 and keeps an Equal Weight rating on the shares. The company’s Q2 comp was outsized in April before reverting to Q1 levels in May and easing further in June, with the more modest underlying comp persisting in July, the analyst tells investors in a research note. The firm says Chipotle’s Q3 comp and margin is below consensus, leading to reduction in estimates.