Chipotle price target raised to $3,150 from $3,000 at Baird

Baird raised the firm’s price target on Chipotle to $3,150 from $3,000 and keeps an Outperform rating on the shares. The firm noted they announced a stock split and their review of prior stock splits for large-cap companies suggests it is likely to cause a bounce in the shares on a near-term basis.