JPMorgan raised the firm’s price target on Chipotle to $3,000 from $2,750 and keeps a Neutral rating on the shares. The firm rolled over price targets in the restraint group to December 2025. Industry pricing, especially versus grocery, has been a key reason for transaction softness, the analyst tells investors in a research note. The firm says the recent underperformance of the more value oriented, free cash flow-driven valuations should improve from here as many estimates have been de-risked to the current pricing environment and yields now bear appropriate spreads.
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