Chipotle price target raised to $55 from $54.50 at Guggenheim

Guggenheim raised the firm’s price target on Chipotle to $55 from $54.50 and keeps a Neutral rating on the shares. The firm is updating estimates to “get them to a place that better reflects sales headwinds for the industry over June and July” as well as adjusting its target to account for the 50-1 stock split. The high multiple on the stock creates some challenges in finding a valuation floor, but the firm also believes that sentiment is now quite negative for a high-quality growth company, the analyst tells investors.