BMO Capital analyst Andrew Strelzik raised the firm’s price target on Chipotle to $1,950 from $1,800 but keeps a Market Perform rating on the shares due to "valuation sensitivity". The company’s Q1 results topped expectations on stronger comps and restaurant margins, the analyst tells investors in a research note. Chipotle’s traffic momentum should also dispel value concerns following outsized price increases, BMO added, stating that it is also encouraged by the inflection in digital trajectory.
Published first on TheFly
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