Is $1,200 Just Around the Corner for Chipotle Shares?

Is $1,200 Just Around the Corner for Chipotle Shares?

Wedbush analyst Nick Setyan lifted his price target on Chipotle Mexican Grill (NYSE: CMG) by 38% on Monday. The analyst cited the burrito purveyor's strong digital track record, saying Chipotle has the luxury of taking its time. "We sensed that Chipotle may be taking a more conservative approach to opening dining rooms as solid off-premise sales trends allow management to further hone their dine-in operating procedures," he said.