Chipotle cost pressures should decrease later this year, says Wells Fargo Wells Fargo believes that Chipotle's stock sold off Friday following the company's earnings due to worries about cost pressures. However, the firm expects most of these cost pressures to dissipate later this year following a scheduled price increase and a deceleration in stock-based compensation growth in 2H14. The firm is upbeat on the company's outlook but does not expect its multiple to expand and keeps a Market Perform rating on the shares.
Chipotle upgraded to Buy at Miller Tabak Miller Tabak upgraded Chipotle to Buy and increased its price target to $725 from $715. The firm said mid-to-high-single-digit same-restaurant sales growth and lower food costs support above-peer earnings growth through 2016 and the recent pullback in shares provides a buying opportunity.