Chipotle price target lowered to $58 from $60 at Raymond James

Raymond James lowered the firm’s price target on Chipotle (CMG) to $58 from $60 and keeps an Outperform rating on the shares. Chipotle’s “mixed” Q1 results reflected softer than expected comps, offset by better store margins and lower G&A, the analyst tells investors in a research note. While traffic has turned negative year over year in the first half of 2025, Raymond James remains confident in Chipotle’s strong brand and value proposition and is optimistic that traffic can rebound in the second half.