Chipotle Q2 same-store-sales estimate raised to 4% from 3% at Wedbush Wedbush's Chipotle checks indicate Q2 same-store-sales are tracking slightly ahead of Street estimates of 3.8% driven by increased marketing, improved throughput, and new menu items. Checks also indicate catering is strong and is seeing increased traction and that a price increase in the 3-5% range is likely in 2H 2013 given increased commodity costs. The analyst raised estimates given strong comps and raised its price target to $420 from $400. Shares are Outperform rated.
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