Chipotle price target lowered to $48 from $50 at Telsey Advisory

Telsey Advisory analyst Sarang Vora lowered the firm’s price target on Chipotle (CMG) to $48 from $50 and keeps an Outperform rating on the shares. The company’s Q4 results came in ahead of expectations, demonstrating success from its marketing strategies, gains from menu innovations, and operational enhancements, the analyst tells investors. Chipotle remains on track to become a leading restaurant brand, noting the risk-reward is favorable at its current valuation, the firm adds.