Raymond James lowered the firm’s price target on Chipotle (CMG) to $60 from $66 and keeps an Outperform rating on the shares as part of a Q1 preview for the restaurant group. The firm maintains a “selective stance” towards restaurant stocks heading into Q1 earnings. It expects “choppy” Q1 results reflecting widening performance gaps between share gainers and losers, tariff updates reflecting a relatively low direct cost and margin impact for U.S. domestic restaurants, and a cautious tone from most management teams as it relates to the U.S. macro outlook and international trends.
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Read More on CMG:
- Chipotle price target lowered to $65 from $70 at UBS
- Chipotle’s Resilience and Growth Potential Amidst Market Challenges: A Buy Recommendation
- Chipotle price target lowered to $60 from $64 at KeyBanc
- Chipotle price target lowered to $67 from $70 at Morgan Stanley
- Chipotle price target lowered to $65 from $70 at RBC Capital
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