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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on CMG:
- Chipotle price target raised to $1,900 from $1,800 at Wells Fargo
- Chipotle price target raised to $1,900 from $1,750 at Raymond James
- Chipotle price target lowered to $1,780 from $1,800 at KeyBanc
- Chipotle price target raised to $2,084 from $1,986 at Citi
- Chipotle price target raised to $1,550 from $1,450 at Barclays