Chipotle Pressure Ramps Up

Turnaround concerns have analysts paring their 12-month target prices on the burrito chain’s stock

Chipotle Mexican Grill Inc., which tumbled Wednesday following its fourth-quarter earnings report, saw analysts’ 12-month consensus target price shed six percent to $302.81. Concern over foot traffic -- which was negative in the quarter -- has put focus on the pace of the restaurant operator’s turnaround. “While Chipotle has had some setbacks along the way, we’re past that time,” said Mizuho Securities USA analyst Jeremy Scott, who downgraded the stock to a neutral rating from buy. “We’re in something different, and I think traffic is not recovering.”

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