David Stahl
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JP Morgan Raises Target on Chipotle, But It's Not Because of Earnings

Shares of Chipotle Mexican Grill, Inc.  have plunged from above $530 in early March 2016 to below $450 on April 13. JPMorgan’s John Ivankoe upgraded the rating for the company from Neutral to Overweight, while raising the price target from $465 to $510.

Chipotle’s current stock valuation does not reflect the prospects of an earnings recovery, analyst John Ivankoe mentioned.