Chipotle price target raised to $2,100 from $2,000 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Chipotle Mexican Grill to $2,100 from $2,000 and keeps a Buy rating on the shares post the Q1 results. Chipotle’s transaction growth continued in March and April, which is impressive given many quick-casual and casual dining chains have seen softer traffic during those periods, the analyst tells investors in a research note. The firm says sales leverage, easing commodity inflation, and labor efficiencies are benefiting Chipotle’s margin performance.