BTIG raised the firm’s price target on Chipotle to $2,750 from $2,650 and keeps a Buy rating on the shares. The company reported a highly impressive quarter with sizable upside on both sales and earnings, setting itself apart from what looks to be a choppy earnings season for the group, the analyst tells investors in a research note. BTIG adds that it was most impressed by the 7.4% increase in traffic that accelerated by 330 bps sequentially from Q3.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CMG:
- Chipotle Approves Additional $200 Million Stock Buyback Plan
- CHIPOTLE ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS
- Here’s Why U.S. Fast-Food Companies Are Raising Prices in Ca.
- CMG Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Chipotle price target raised to $2,560 from $2,450 at Stifel