Chipotle price target raised to $1,950 from $1,885 at Barclays

Barclays raised the firm’s price target on Chipotle Mexican Grill, to $1,950 from $1,885 and keeps an Equal Weight rating on the shares. The company reported “mixed” Q2 results, with a modest comp shortfall relative to buy-side expectations, while modest restaurant margin upside and earnings beat were led by below the line items, the analyst tells investors in a research note. Chipotle’s Q3 comp guidance is below consensus while all cost items were above, which is “not the ideal combination,” says Barclays.