Chipotle price target raised to $1,885 from $1,550 at Barclays

Barclays analyst Jeffrey Bernstein raised the firm’s price target on Chipotle to $1,885 from $1,550 and keeps an Equal Weight rating on the shares post the Q1 results. The company’s’ quarter came in "outsized top to bottom, above elevated buyside expectations," the analyst tells investors in a research note. Positive traffic continues into April, which in conjunction with less menu price, eases prior investor concerns, says the firm. It views Chipotle’s guidance for accelerating restaurant margin as "encouraging."