U.S. Markets closed

Cowen names Chipotle ‘best idea’ for 2020 on strong sales

Cowen raised its price target on Chipotle from $800 to $970, upgrading shares to outperform from market perform. Analyst Andrew Charles thinks the fast-food chain is doing a lot of things right, but finds Chipotle's digital strategy to be particularly effective. This includes pickup and third-party delivery, and 'Chipotlanes’, its drive-thru format.