Chipotle says customers moving from steak to chicken Chipotle says high beef prices may be lowering demand and moving customers to chicken. The company repeated its view of opening 180-195 stores this fiscal year. The company said its sees "exciting" growth prospects for all three of its concepts, including its flagship brand and its newer Asian and pizza concepts. Chipotle co-CEOs Steve Ells and Monty Moran are presenting at the Sanford C. Bernstein Strategic Decisions conference.
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.