Chipotle price target raised to $2,825 from $2,525 at Oppenheimer

Oppenheimer raised the firm’s price target on Chipotle to $2,825 from $2,525 and keeps an Outperform rating on the shares. The firm notes shares are up 40% the last four months as most of the bull/bear investor debates it is familiar with have vanished. The model’s traffic resurgence in Q4 2023 was a major factor in the sentiment swing, but this also proved Chipotle’s price/value positioning and operational drivers remain best-in-class, Oppenheimer says.