Raymond James analyst Brian Vaccaro raised the firm’s price target on Chipotle to $1,900 from $1,750 and keeps an Outperform rating on the shares. Chipotle’s "somewhat noisy" Q4 results were offset by stronger than expected quarter-to-date comps, the analyst tells investors in a research note. The company’s store margin recovery into the 25%-26% range seems firmly intact, while a return to positive traffic should dispel concerns that overly aggressive menu pricing has hurt its value proposition, the firm says.
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Published first on TheFly
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