Chipotle Mexican Grill (CMG) PT Raised to $325 at Wells Fargo
Wells Fargo raised its price target on Chipotle Mexican Grill (NYSE: CMG) to $325.00 (from $310.00) while maintaining a Market Perform rating.
Analyst Jeff Farmer notes EPS upside driven by advertising spending timing (marketing & promo to be a much greater expense in coming quarters).
The firm is raising 2018E EPS to $7.85 from $7.84 & 2019E to $9.23 from $9.15.