KeyBanc keeps Chipotle at Overweight with $40 target; Guggenheim cuts to $32

what happened

KeyBanc kept its Overweight rating on Chipotle Mexican Grill on October 29 but lowered its price target to $40 from $42, a 4.8% decrease. The new level implies 39.2% upside from the October 28 close of $28.73, according to TradingView, which cites Benzinga data.

Guggenheim, in a separate note the same day, kept its Neutral rating and reduced its target to $32 from $36, an 11.1% cut. That target implies 11.4% upside from the same closing price.

The publisher's tables of recent analyst actions show targets over the past 30 days ranging from $32 to $45 in one report and from $32 to $51 in the other, because each snapshot covers a different set of five recent notes.

why it matters

For investors these are adjustments to targets rather than rating changes, since both firms kept their views. The spread of targets from $32 to $51 suggests analysts still disagree about the stock's prospects.

tags

instruments