Following the e-coli outbreak at Chipotle, Bernstein predicts that Chipotle's comp sales will fall 4% in Q4 and that the company's comp sales will still be negatively impacted by the outbreak in the first quarter of 2016. The firm thinks that the company's sales will rebound strongly in the second half of 2016 and remains upbeat on the company's longer term outlook. It cut its price target on the name to $795 from $811 but keeps an Outperform rating on the shares.

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.