Chipotle price target raised to $2,700 from $2,280 at Truist

Truist raised the firm’s price target on Chipotle to $2,700 from $2,280 and keeps a Buy rating on the shares as part of a broader research note on Restaurants. Truist Card Data suggest that a “solid” set of Q4 sales will sustain the group’s rally, the analyst tells investors in a research note. While sales growth has decelerated broadly in January due to difficult compares, the underlying momentum appears intact, and investors should be able to look past the group’s modest Q1 guidance, the firm added.