Chipotle shares rise after RBC upgrades the stock and predicts 20% rally

RBC Capital Markets upgrades Chipotle shares to outperform and raise their price target on the burrito chain to $510. "After a 19 percent retreat from recent highs, we believe Chipotle shares offer a compelling risk/reward heading into 2019 and 2020," analyst David Palmer says. New management at Chipotle Mexican Grill CMG will grow sales at the burrito chain through an improved menu, digital and delivery offerings and other marketing successes, according to RBC Capital Markets, which upgraded shares to outperform.