UPDATE: Wedbush Raises PT on Chipotle Mexican Grill on Current Valuation
In a report published Wednesday, Wedbush analyst Nick Setyan reiterated his Neutral rating on Chipotle Mexican Grill (NYSE: CMG), and raised his price target from $310.00 to $320.00.
In the report, Setyan noted, “We believe Chipotle's current valuation properly reflects the probability of a price increase in mid-2013 in the 3% range, as well as the possibility of catering traction, balanced by slowing long-term growth fundamentals, such as a slowing unit growth rate and the lack of meaningful short-term comp drivers.”
Chipotle Mexican Grill closed on Tuesday at $318.45.
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