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Chipotle Price Target at $485.00

 (Image source: wastedpotentialz)

It just keeps getting better and better at Chipotle Mexican Grill, Inc. (NYSE:CMG)! Morgan Stanley upgraded the stock from “Equal weight” to “overweight” with a price target of $485.00. Chipotle’s ability to raise prices in this climate of weak consumer spending was the major reason for the upgrade. Regardless of price, consumers will continue to flock to the restaurants; just look at the lines during lunch breaks! Currently, the stock is at a 52 week high.