Chipotle Analysts Slash Their Forecasts After Q3 Results

Core Insights - Chipotle Mexican Grill reported third-quarter earnings of 29 cents per share, meeting analyst consensus estimates, but quarterly revenue of $3 billion fell short of the expected $3.02 billion [1] - CEO Scott Boatwright highlighted the company's strong brand strength and value proposition despite ongoing macroeconomic pressures [1] Stock Performance - Following the earnings announcement, Chipotle shares dropped 16.9% to $33.04 in pre-market trading [2] Analyst Ratings and Price Targets - TD Cowen analyst Andrew M. Charles maintained a Buy rating on Chipotle but reduced the price target from $45 to $40 [4] - BTIG analyst Peter Saleh also maintained a Buy rating while lowering the price target from $57 to $45 [4] - Mizuho analyst Nick Setyan kept a Neutral rating and decreased the price target from $40 to $34 [4]