Chipotle price target lowered to $44 from $48 at Jefferies

Jefferies analyst Andy Barish lowered the firm’s price target on Chipotle (CMG) to $44 from $48 and keeps a Hold rating on the shares. The firm sees a softer finish to Q3 for its U.S. restaurants coverage as demand trends remained choppy and is now more conservative regarding near-term same-store sales growth, the analyst tells investors in a preview for the group. The firm sees “moderate downside risk” in Q3 among its coverage and lowered price targets on several names in the space.