BTIG analyst Peter Saleh raised the firm’s price target on Chipotle to $2,175 from $1,825 and keeps a Buy rating on the shares after its Q1 earnings beat. The company saw a great start to the year with traffic growth, improved trend among lower-income consumers, and momentum carrying into the seasonally strong second quarter, though investors should also take note of the step change in restaurant margins, which may still be in the early innings, the analyst tells investors in a research note.
Published first on TheFly
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