Wedbush raised the firm’s price target on Chipotle to $2,200 from $2,080 and keeps an Outperform rating on the shares. The firm notes the company reported Q1 EPS above expectations on better-than-expected same-store sales growth and UL margin. Wedbush believes Chipotle is poised to see accelerated market share gains in a post-COVID environment, resulting in sustained growth above pre-COVID levels.
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