Raymond James upgraded Chipotle to outperform market performance. Analysts wrote that the company is, "among the highest quality growth stories in our universe."
"We believe the company's sales have fully participated in strengthening industry trends over the last four weeks, likely pushing recent average weekly sales (AWS) in excess of $50K," said analyst Brian Vaccaro, who established a $1,800 price target.
"The company nimbly navigated the COVID-19 pandemic, revealing the strength/flex of its business model and strong operations, while also accelerating digital adoption," Vaccaro said.
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