Chipotle price target raised to $2,250 from $2,050 at UBS

UBS raised the firm’s price target on Chipotle to $2,250 from $2,050 and keeps a Buy rating on the shares. Chipotle’s quarterly results highlighted better than expected comp sales and margins, solidly positive transactions of roughly 4% with compares easing in the second half of the year, and Q2 margin guidance highlighting a strengthening profitability outlook, the analyst tells investors in a research note. The firm believes Chipotle is positioned for above average resiliency in a tough macro environment, while shares remain attractive.