UPDATE: Jefferies Upgrades Chipotle Mexican Grill to Hold on HIgh Valuation, Earnings Risk

In a report published Tuesday, Jefferies analyst Andy Barish upgraded the rating on Chipotle Mexican Grill (NYSE: CMG ) from Sell to Hold, and raised the price target from $306.00 to $400.00. In the report, Jefferies noted, “Primary rationale for Underperform had been high valuation despite earnings risk from slowing