Chipotle price target raised to $2,865 from $2,400 at Barclays

Barclays raised the firm’s price target on Chipotle to $2,865 from $2,400 and keeps an Equal Weight rating on the shares. The company’s Q1 beat the Street on comp, restaurant margin and earnings, the analyst tells investors in a research note. The firm says Chipotle’s comp momentum was strong through Q1 and continued into April, likely contrary to industry trends.