Chipotle Mexican Grill, Inc. (NYSE:CMG) shares are down Wednesday, after the company announced a revenue miss in the fourth quarter.

The company reported its quarterly results amid an exciting earnings season. Here are some key analyst takeaways.

Stephens On Chipotle Mexican Grill

Analyst Jim Salera maintained an Equal-Weight rating while cutting the price target from $61 to $60.

Chipotle Mexican Grill reported mixed fourth-quarter results, with same-store sales of 5.4% missing consensus of 5.7% but unit development, margins and adjusted earnings coming in better than expected, Salera said in a note. The company opened 119 gross restaurants during the quarter, “modestly ahead of our proprietary unit tracker,” he added.

Chipotle Mexican Grill’s performance was supported by “durable above peer traffic growth,” the analyst stated. Although transactions trends suggest a slowdown in the first half of the year, this is due to “January weather headwinds, difficult y/y laps, and unfavorable calendar shifts,” and the company continues to …

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