Wells Fargo lowered the firm’s price target on Chipotle (CMG) to $70 from $75 and keeps an Overweight rating on the shares. The firm notes softer Q4 comps/RLM were expected and Q1 is off to a soft start. But with Honey Chicken in March, easing RLM headwinds and productivity/automation levers coming, Wells sees an improving catalyst path and attractive long-term entry point.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio