Truist analyst Jake Bartlett raised the firm’s price target on Chipotle to $2,920 from $2,700 and keeps a Buy rating on the shares after its Q4 earnings beat. The company is driving industry leading traffic, reported up 7.4% in Q4, primarily via improved throughput as demand remains strong across customer income levels, giving the firm the confidence that traffic will continue to grow with strong execution, the analyst tells investors in a research note.
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