Jefferies Downgrades Chipotle Mexican Grill

Jefferies on Thursday lowered its rating of Chipotle Mexican Grill, Inc. (NYSE: CMG) to hold from buy, saying “valuation is full” after the stock’s 65% run-up this year. Shares of Chipotle Mexican Grill were falling 1.4% in trading Thursday to $708.76 after the burrito chain was downgraded. "In spite of the fact that we trust that there are solid central drivers still to unfurl for CMG… sooner than anticipated reliability program take ....