Citigroup Raises Chipotle Price Target to $49 on Q4 EPS Beat
Citigroup raised its price target to $49 from $48 and maintained a Buy rating on Chipotle following Q4 2025 results. Chipotle reported adjusted EPS of $0.25 vs $0.24 consensus on $2.98 billion revenue vs $2.96 billion, while comparable restaurant sales declined 2.5%.
1. Citigroup Price Target Adjustment
Citigroup’s equity research team raised its price target on Chipotle to $49 from $48 and reiterated a Buy rating, citing the company’s ability to maintain profitability through pricing levers and a wealthier customer base.
2. Q4 2025 Earnings Performance
In the fourth quarter, Chipotle delivered adjusted EPS of $0.25 versus a $0.24 consensus and generated $2.98 billion in revenue against a $2.96 billion estimate, though comparable restaurant sales fell 2.5% due to a 3.2% transaction decline partly offset by 0.7% check growth.
3. CEO Pricing Strategy Statement
CEO Scott Boatwright disclosed that over 60% of core customers earn more than $100,000 annually, signaling confidence in further price increases to boost average checks and support margin expansion.