Chipotle Mexican Grill (CMG) PT Lowered to $58 at TD Cowen

TD Cowen analyst Andrew Charles lowered the price target on Chipotle Mexican Grill (NYSE: CMG) to $58.00 (from $61.00) while maintaining a Buy rating.

The analyst commented: "2025 a Tougher Backdrop Than We Expected; Lowered 2025 SSS guidance to Flat from +LSD% (vs 0.8% consensus) reflects that tangible initiatives (marketing, menu innovation & loyalty) are needed to drive 8% 2Y trends vs prior expectations that the base business would hold 8% 2Y trends in 2Q25-4Q25 & initiatives would drive upside. We see 2H25 sales beats as less likely and expect alpha when returning to MSD% 2026 SSS gains more credibility."

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