Chipotle price target lowered to $38 from $40 at Barclays

Barclays analyst Jeffrey Bernstein lowered the firm’s price target on Chipotle (CMG) to $38 from $40 and keeps an Equal Weight rating on the shares. The company’s Q1 comp beat estimates despite a softening in March, and its April comps have reaccelerated, the analyst tells investors in a research note.