Chipotle Mexican Grill (CMG) PT Raised to $325 at Wells Fargo

Wells Fargo raised its price target on Chipotle Mexican Grill (NYSE: CMG) to $325.00 (from $310.00) while maintaining a Market Perform rating.

Analyst Jeff Farmer notes EPS upside driven by advertising spending timing (marketing & promo to be a much greater expense in coming quarters).

The firm is raising 2018E EPS to $7.85 from $7.84 & 2019E to $9.23 from $9.15.

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