Chipotle price target raised to $45 from $40 at Raymond James

Raymond James raised the firm’s price target on Chipotle (CMG) to $45 from $40 and keeps an Outperform rating on the shares. Restaurant stocks have sharply outperformed year to date on a January comp rebound, optimism around an easier first-half setup, and significant short covering, despite expectations for mixed Q4 results due to softer demand, the analyst tells investors in a research note. Focus is shifting to early-2026 trends and guidance, with potential support from higher tax refunds and stable employment, balanced by uncertainties around GLP-1 usage, weather effects, and broader macro volatility, the firm says.