Chipotle price target raised to $3,050 from $3,010 at Stephens

Stephens analyst Jim Salera raised the firm’s price target on Chipotle to $3,050 from $3,010 and keeps an Equal Weight rating on the shares. Chipotle reported better-than-expected Q1 results across almost all major line items, with the one exception coming from a unit miss, the analyst tells investors. Looking past any near-term headwinds, the firm believes Chipotle remains well-positioned to offset the longer-term impact from rising labor costs, the analyst added.