Chipotle Shares Fall 5.9% After TD Cowen Downgrade
Chipotle shares fell 5.9% in afternoon trading after TD Cowen analyst Andrew Charles cut the rating to Hold from Buy and lowered the price target to $32 from $44. Charles cited slowing sales, according to StreetInsider.
Shares of Mexican fast-food chain Chipotle (NYSE: CMG) fell 5.9% in the afternoon session after TD Cowen analyst Andrew Charles lowered his rating to Hold from Buy and reduced the price target to $32 from $44. StreetInsider reported that Charles cited “slowing sales” after alternative…