Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) declined 5.4% on Friday after an analyst at Cowen downgraded the fast-casual burrito chain. More specifically — and though we usually take Wall Street’s demands with a grain of salt — Cowen’s Andrew Charles lowered his rating for Chipotle to underperform from market perform, and simultaneously reduced his per-share price target to $250 from $370. Chipotle stock closed today at almost exactly $300 per share.
IMAGE SOURCE: CHIPOTLE MEXICAN GRILL.