Wedbush Downgrades Chipotle Mexican Grill to Neutral, Announces $2400 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wedbush analyst Nick Setyan has downgraded Chipotle Mexican Grill (NYSE:CMG) from Outperform to Neutral, while setting a price target of $2400 for the company's stock.

December 21, 2023 | 1:55 pm
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NEUTRAL IMPACT
Wedbush analyst Nick Setyan downgraded Chipotle Mexican Grill to Neutral from Outperform and set a price target of $2400.
The downgrade from Outperform to Neutral by a prominent analyst could lead to a neutral short-term impact on CMG's stock price as the market digests the news. The setting of a price target suggests a level that the analyst believes the stock will reach, which can influence investor expectations and stock performance. However, the impact may be moderated by other market factors and investor sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100