Chipotle price target raised to $72 from $70 at Evercore ISI

Evercore ISI analyst David Palmer raised the firm’s price target on Chipotle (CMG) to $72 from $70 and keeps an Outperform rating on the shares. After having worked with Spice Data to analyze Chipotle’s pricing actions across the U.S., the firm says it has observed price increases of 2%-3% in about 35% of locations so far, noting that it is raising its Q4 and 2025 EPS estimates as a result of a 2% average price increase that will be fully rolled out in the coming weeks across the U.S.