Truist raised the firm’s price target on Chipotle to $3,520 from $3,440 and keeps a Buy rating on the shares. The firm hosted investors for a store tour and regional Chicago area management talks, coming away with its meetings with greater appreciation for the company’s throughput opportunity and drivers, management’s focus on traffic- driven sales, and potential for accelerating store development as headwinds ease, the analyst tells investors in a research note.
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