Jefferies analyst Andy Barish reiterated a Hold rating and trimmed estimates and his price target on Chipotle Mexican Grill (NYSE: CMG) to $680.00 (from $700.00). The analyst said normalizing trends should potentially hit valuation.

Barish commented, "3Q EPS misses our/Cons. expectations as in line SSS and lower commodity costs were offset by higher labor expense. 4Q and '16 SSS are expected to stay in a LSD range, below Cons. of +3.8% and +5.2%, respectively. Unit growth is expected to remain in a low DD range into '16, but with SSS in a LSD range and labor costs likely to continue to move upwards, RLMs are likely to be flattish to down. Our '15/16E EPS goes to $17.13/19.32 (fr $17.23/20.30)."

For an analyst ratings summary and ratings history on Chipotle Mexican Grill click here. For more ratings news on Chipotle Mexican Grill click here.

Shares of Chipotle Mexican Grill closed at $705.63 yesterday.

Analyst Comments Analyst EPS Change Analyst EPS View Analyst PT Change

RBC Capital Sees Offsite Ordering as Sales Opportunity for Chipotle Mexican Grill (CMG); Reiterates Outperform October 21, 2015 9:43 AM Wedbush Cuts Price Target on Chipotle Mexican Grill (CMG) Following EPS Miss October 21, 2015 7:57 AM Piper Jaffray Trims Numbers on Chipotle Mexican Grill (CMG) Post Q3October 21, 2015 7:06 AM Chipotle Mexican Grill (CMG) Misses Q3 EPS by 4cOctober 20, 2015 4:10 PM Chipotle Mexican Grill, Inc. Announces Third Quarter 2015 ResultsOctober 20, 2015 4:10 PM