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Actionable news in CMG: CHIPOTLE MEXICAN GRILL Inc,

Chipotle Mexican Grill (CMG) Stock Price Target Lowered at Jefferies, Barclays

NEW YORK (TheStreet) -- Chipotle Mexican Grill's (CMG - Get Report) price target was lowered to $680 from $700 at Jefferies, and to $660 from $685 at Barclays this morning.

Following Chipotle's 2015 third quarter earnings miss on Tuesday, Jefferies cut its price target to reflect the firm's lowered fiscal 2016 EBITDA. Jefferies now expects 2015 and fiscal 2016 earnings per share of $17.13 and $19.32, respectively, down from $17.23 and $20.30.

Chipotle's unit growth is expected to remain low into 2016, and its labor costs will likely continue to increase, Jefferies said in a note.

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Barclays decreased its price target on the stock as it expects comparable same-store sales to be "modest" during the 2015 fourth quarter, according to a note. Unit growth will remain in the low double digits, and Chipotle has no...


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