Chipotle price target raised to $3,100 from $2,986 at Morgan Stanley

Morgan Stanley analyst Brian Harbour raised the firm’s price target on Chipotle to $3,100 from $2,986 and keeps an Equal Weight rating on the shares. Chipotle is “a clean success story,” which is “perhaps well appreciated,” but lifting fiscal year sales guidance signals confidence and likely supports stock, says the analyst, who thinks momentum is “still working in CMG‘s favor.”