Chipotle upgraded to Buy from Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded Chipotle (CMG) to Buy from Neutral with a $55 price target The firm says the correction in the shares reflects cyclical softness in Chipotle’s growth rather than structural weakness in its growth model. The company’s near-term expectations have been resent, but its unit economics remain best-in-class, supported by a “defensible value proposition, productivity innovation, and significant white-space expansion,” the analyst tells investors in a research note. Rothschild believes Chipotle’s risk/reward now skews positive.