Chipotle price target raised to $58 from $53 at Loop Capital

Loop Capital raised the firm’s price target on Chipotle (CMG) to $58 from $53 and keeps a Hold rating on the shares. The company’s Q3 earnings topped consensus but comps growth of 6% was below the firm’s estimate of 6.5%, the analyst tells investors in a research note. Chipotle management also indicated it expects a modest improvement in transaction growth during Q4 vs. Q3 but for pricing to only be up a little over 1% for the current quarter, Loop added.