Citi raised the firm’s price target on Chipotle to $2,699 from $2,292 and keeps a Buy rating on the shares. Footfall growth remained strong throughout Q4 and, like other restaurants, Chipotle saw a year-over-year drop off to start fiscal 2024 due to weather, which should come as little surprise to investors, the analyst tells investors in a research note. The firm expects the company’s Q4 earnings “will continue to paint a picture of clear, controllable” same-store-sales drivers from here.
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