Truist analyst Jake Bartlett raised the firm’s price target on Chipotle to $2,270 from $1,960 and keeps a Buy rating on the shares. The sharp recovery in the company’s Q1 traffic should ease any lingering investor concerns that it took too much price in FY21 and FY22, and its "strong" comps guidance for Q2 and Q3 is achievable amid improving labor turnover and operational initiatives, the analyst tells investors in a research note.
Published first on TheFly
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