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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CMG:
- Chipotle price target raised to $2,700 from $2,280 at Truist
- Wall Street chooses winners in restaurant space for 2024
- Chipotle price target raised to $2,284 from $2,070 at Morgan Stanley
- Chipotle price target raised to $2,650 from $2,200 at TD Cowen
- The restaurant stocks to own in 2024, according to Wells Fargo