Chipotle price target raised to $1,850 from $1,700 at Loop Capital

Loop Capital analyst Alton Stump raised the firm’s price target on Chipotle to $1,850 from $1,700 but keeps a Hold rating on the shares. The company reported a "sharp" beat on earnings and comps, where 10.9% SSS growth equated to a 3-year stacked gain of 37.1% – a substantial acceleration from its reported 3-year stacks of 26.5% in Q4, the analyst tells investors in a research note. Loop adds however that while it is largely positive on Chipotle’s fundamentals, it also believes that these are accurately reflected in the stock’s valuation at the present time.