Chipotle price target lowered to $41 from $43 at Raymond James

Raymond James lowered the firm’s price target on Chipotle (CMG) to $41 from $43 and keeps an Outperform rating on the shares. Restaurant stocks saw high volatility in Q1, with strong January demand followed by softer trends due to weather and concerns over higher gas prices and geopolitical tensions. While Q1 results are expected to be mostly in line, investors are focused on recent demand softness, though factors like higher tax refunds and calendar shifts may be distorting underlying trends, the firm says.