BMO Capital analyst Andrew Strelzik raised the firm’s price target on Chipotle to $1,800 from $1,600 but keeps a Market Perform rating on the shares after its Q4 results. The company’s comps slowed sequentially and traffic remained solidly negative, but the management guided Q1 comps ahead of consensus following industry-wide January acceleration and supported by weather and Omicron favorability, the analyst tells investors in a research note. The firm adds however that while it is constructive on the company’s ability to grow margins, it sees risk-reward as balanced at current levels.
Published first on TheFly
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