Chipotle price target raised to $70 from $62 at Baird

Baird analyst David Tarantino raised the firm’s price target on Chipotle (CMG) to $70 from $62 and keeps an Outperform rating on the shares. The firm viewed the Q3 report as largely satisfactory, as the strength in same-store traffic momentum and better-than-expected margin performance is prompting an upward revision to 2024-2025 EPS estimates.