Shares of Chipotle Mexican Grill Inc. CMG, -4.36% are down 4.1% in Monday morning trading after Wedbush analyst Nick Setyan cut his rating on the stock to underperform from neutral. He also lowered his price target to $445 from $450. He's cautious about same-store-sales expectations in the near term, as well as margin expectations for a longer stretch. Price increases and improved mix "are set to decline as contributors" to same-store-sales growth, Setyan wrote, though the company will likely benefit from increased marketing and enhanced digital efforts. He is also concerned about the possibility of more negative headlines related to food-safety issues as well as delays in product innovation. Shares are up 61% over the past 12 months, while the S&P 500 SPX, +0.79% has gained 18%.
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