UPDATE: Deutsche Bank Raises PT on Chipotle Mexican Grill on Solid 1Q Margins Beat

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Chipotle Mexican Grill CMG, and raised the price target from $330.00 to $345.00. In the report, Poole noted, “The double-edged sword of commodity inflation. CMG posted a solid beat on 1Q margins, and ests. moving higher. However, mgmt. showed more hesitation around raising menu prices than in recent calls, citing some moderation in food infl. and a choppy macro. Higher pricing is a key component of the 2H bull case. The uncertainty here may limit near-term upside in the shares.” Chipotle Mexican Grill closed on Thursday at $328.36.