Chipotle price target raised to $3,250 from $2,750 at BTIG

BTIG raised the firm’s price target on Chipotle to $3,250 from $2,750 and keeps a Buy rating on the shares. The firm believes that the company’s faster throughput, seasonal strength and higher pricing in California should support higher comps. Q2 same-store sales should be about 200bps higher than Q1 owing to pricing and the Easter shift, in addition to the benefit from the return of Chicken al Pastor for the spring, the analyst tells investors in a research note.