RBC Capital raised the firm’s price target on Chipotle to $2,050 from $1,875 and keeps an Outperform rating on the shares. The company’s Q1 saw a return to sustained positive traffic and better-than-expected restaurant margins, the analyst tells investors in a research note. RBC sees improving throughput as a key sales and margin driver in the near-term, while the recent menu innovation at Chipotle is "also encouraging".
Published first on TheFly
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