Chipotle price target raised to $2,900 from $2,700 at UBS

UBS raised the firm’s price target on Chipotle to $2,900 from $2,700 and keeps a Buy rating on the shares. Chipotle’s earnings and commentary highlighted strong Q4 results, with better than expected same-store sales and traffic, margin and earnings upside, and an attractive near- and long-term growth outlook, the analyst tells investors in a research note. The firm is encouraged by robust transaction growth in Q4 and a return to solid momentum in Q1 following weather headwinds in January.