KeyBanc analyst Eric Gonzalez raised the firm’s price target on Chipotle to $2,250 from $2,200 and keeps an Overweight rating on the shares. The firm said Chipotle’s Q3 results include EPS, SSS growth, and store-level margins that exceeded expectations as traffic trends improved throughout the period. In addition, SSS growth is projected to accelerate to the mid- to high-single-digit range in Q4 and sustain at that level in 2024 with the help of a recent price increase, the analyst tells investors in a research note.
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