Chipotle price target lowered to $56 from $65 at UBS

UBS lowered the firm’s price target on Chipotle (CMG) to $56 from $65 and keeps a Buy rating on the shares. Chipotle’s Q3 sales and earnings are expected to be pressured by ongoing industry and macro challenges, the analyst tells investors in a research note. Comparable sales are anticipated to be roughly flat, with potential downward revisions to 2025 guidance amid continued consumer softness, particularly among lower-income and younger demographics. While near-term headwinds persist, positive transaction growth and robust unit expansion in 2026 support a constructive longer-term view, the firm says.