(Updates)
** Shares of Chipotle Mexican Grill rise 4% to record high of $3,047.16 in early trade after co raises FY sales forecast
** Co expects FY24 comparable restaurant sales growth of mid-to-high-single-digit pct vs previous forecast of mid-single-digit pct growth
** Co's comparable sales rose 7% in Q1 compared with estimates of 4.97% increase; adj. profit beat estimates
** CMG stock breached $3,000-mark for the first time last month after co approved 50-for-1 stock split
** At least 17 brokerages raise PT on stock, encouraged by restaurant chain's faster service time and traffic out-performance, and solid demand for burrito and rice bowl
** Stock set for fourth straight session of gains
** 24 of 34 brokerages rate CMG stock "buy" or higher, 10 "hold"; their median PT is $3,300
** Stock is up 28% YTD as of last close
(Reporting by Pranav Kashyap in Bengaluru)
((Pranav.Kashyap@thomsonreuters.com;))
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