Chipotle Shares Are Having A Monster Day

Chipotle is up 11% in pre-market trading to $653.47.

Chipotle crushed Q2 expectations with earnings of $3.50 per share, on revenue of $1.05 billion, coming in higher than expectations for $3.09 per share on $989.7 million. Comp sales also surged 17.3%.

Now, Robert M Derrington at Wunderlich Securities has raised his price target to $680, from $560.

He also raised his 2014 earnings per share (EPS) target to $13.50 from $12.60.