Chipotle price target raised to $74 from $70.40 at Truist

Truist raised the firm’s price target on Chipotle to $74 from $70.40 and keeps a Buy rating on the shares as part of a broader research note on Restaurants. The firm cites Truist Card Data pointing broadly to sales downside, with pressure on fast food as the recent value promotions are not helping yet but strength in the “fast casual” segment, the analyst tells investors in a research note. For Chipotle, Truist Card Data suggests sales of $2.96B, which is 0.9% above consensus, the firm adds.