Chipotle price target raised to $72 from $71 at Truist

Truist raised the firm’s price target on Chipotle (CMG) to $72 from $71 and keeps a Buy rating on the shares after its Q3 earnings miss but “slight” comps miss. The company’s traffic also accelerated in September and October, highlighting Chipotle’s strong positioning and powerful sales drivers with menu innovation, the analyst tells investors in a research note, also citing its expected FY25 offering of “Honey Chicken” and throughput gains around new equipment driving its continued strong traffic growth.