BTIG lowered the firm’s price target on Chipotle (CMG) to $60 from $67 and keeps a Buy rating on the shares. The company posted its weakest quarter in nearly five years last night, as tighter consumer spending caused them to either trade down to cheaper quick-service alternatives or trade out of restaurants all together, the analyst tells investors in a research note.
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Read More on CMG:
- Chipotle price target lowered to $60 from $65 at UBS
- Chipotle’s Q1 Post-Mortem: What Have We Learned about CMG Stock Going Forward?
- Chipotle price target lowered to $65 from $67 at Morgan Stanley
- Chipotle price target lowered to $58 from $60 at KeyBanc
- Chipotle price target lowered to $49 from $54 at Stephens
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