SunTrust analyst Jake Bartlett says he views restaurants as well positioned into 2020, with a long-term trend of wallet share gains intact and his view that the promotional environment will remain in check. The analyst tells investors in a research note that he expects scale to be a particular advantage as digital and data driven marketing become more important and purchasing power helps offset inflationary pressures. The analyst, who says he expects restaurants to continue to gain wallet share in 2020, raised his price targets for Chipotle (CMG) to $940 from $900, for McDonald's (MCD) to $250 from $230 and for Restaurant Brands (QSR) to $81 from $84. He maintained a Buy rating on all three stocks.

Raymond James analyst Brian Vaccaro raised the firm's price target on Chipotle (CMG) to $3,300 from $3,200 and keeps an Outperform rating on the shares. The firm maintains a selective stance towards its restaurant coverage universe as industry sales have underwhelmed in recent months, causing Raymond James to increasingly favor stocks it view as having "idiosyncratic factors trading at attractive valuations," such as Brinker (EAT), Shake Shack (SHAK), First Watch (FWRG) and Bloomin' Brands (BLMN), the analyst tells investors in a group earnings preview note.

Chipotle Mexican Grill announced the opening of its first location in Kuwait City in partnership with leading international franchise retail operator Alshaya Group. The restaurant has been operating with adjusted hours since the beginning of the month to account for holidays and training and will hold its official grand opening on April 23. Chipotle's location in Kuwait marks the first time the company has entered a new country in over 10 years. The new restaurant is located at The Avenues, Kuwait's largest shopping mall and a hub for international and local brands with over 1,100 stores and approximately one million visitors per week.