Chipotle price target raised to $2,850 from $2,400 at Wedbush

Wedbush raised the firm’s price target on Chipotle to $2,850 from $2,400 and keeps a Neutral rating on the shares. The firm’s Q1 checks point to the company’s same-store-sales growth trending above consensus expectations. However, beyond Q1, Chipotle’s transaction growth largely hinges on improving throughput, the analyst tells investors in a research note. Wedbush continues to believe Chipotle is poised to sustain accelerated market share gains but says margin upside may be difficult without transaction growth upside. It moved the stock’s valuation to 2025 estimates from 2024.