Cowen upgrades Chipotle and names it a 'best idea' for 2020 because of digital sales

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A chicken burrito, guacamole, bag of tortilla chips, and a drink are arranged for a photograph at a Chipotle Mexican Grill Inc. restaurant in El Segundo, California, U.S., on Wednesday, July 25, 2018.

Patrick T. Fallon | Bloomberg | Getty Images

Fast food Mexican restaurant chain Chipotle is “better, faster” and “stronger” heading into the new year, according to Cowen, who just named the stock one of its best idea of 2020.

The firm upgraded shares of Chipotle to outperform from market perform and hiked its price target to $970 per share from $800 per share. Chipotle shares closed at $786.51 a share on Monday.

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