Chipotle price target lowered to $57 from $60 at BTIG

BTIG lowered the firm’s price target on Chipotle (CMG) to $57 from $60 and keeps a Buy rating on the shares. Chipotle reported a mixed quarter, with weaker same-store sales offset by slightly better restaurant margins and G&A, leading to an in-line earnings print, the analyst tells investors in a research note. While guidance was less than desirable, comps and traffic returned to positive in June and July, and restaurant margins should do the same in the second half, the firm says.