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Stephens upgrades Chipotle, says drive-thru 'Chipotlanes' are a growth opportunity

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A customer carries a Chipotle Mexican Grill Inc. bag outside a restaurant in San Francisco, California, U.S., on Monday, July 20, 2020.
David Paul Morris | Bloomberg | Getty Images

Chipotle stock has additional upside when considering the potential shown by drive-thru locations, according to investment firm Stephens.

Shares of the restaurant chain have dipped slightly this year, underperforming the broader market. That pullback makes the stock more attractive as the company has growth opportunities, Stephens said.

Analyst James Rutherford upgraded the stock to overweight from equal weight, saying in a note to clients on Thursday that the company was well-positioned to grow its profitable "Chipotlane" business.

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