Freedom Capital Markets analyst Lynne Collier reiterated a Hold rating and $38.00 price target on Chipotle Mexican Grill (NYSE: CMG).

The analyst comments "CMG was on the tape AMC on 2/3/26 with 4Q25 results that slightly exceeded Street expectations. That said, we believe the investors were disappointed by management’s FY26 guidance calling for flat SSS and a ~150 bps y/y decline in restaurant-level margins. While the company is making adjustments to marketing with an increased spend, new messaging and additional LTO’s, we continue to believe that SSS will likely be choppy over the coming quarters. We are maintaining our Hold rating and our PT of $38."

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Shares of Chipotle Mexican Grill closed at $39.17 yesterday.