Chipotle price target lowered to $42 from $44 at Piper Sandler

Piper Sandler lowered the firm’s price target on Chipotle (CMG) to $42 from $44 and keeps an Overweight rating on the shares following quarterly results. For the quarter, the same-store sales came in above consensus and in-line with the firm’s sense of investor expectations. On the call, management guided Q2 same-store sales to be 1.0%, which Piper notes is ever so slightly above consensus.