Chipotle rises after Q2 earnings beat estimates
** Shares of restaurant company Chipotle Mexican Grill CMG.N rise 3.9% to $53.8 premarket
** Company reports Q2 revenue of $2.97 bln vs analysts' estimate of $2.94 bln - LSEG data
** Posts quarterly adj. profit of 34 cents per share, topping expectations of 25 cents/shr
** Robust earnings driven by demand for co's rice bowls and burritos
** Co's restaurant-level operating margin rose to 28.9% from 27.5% a year ago
** Co warns of margin pressures in upcoming quarters, sees Q3 margin to be ~25%
** At least three brokerages cut PT on stock
** Piper Sandler trims PT to $56 from $61; flags concerns from co's downbeat margin guidance
** Majority of brokerages rate the stock "buy" or higher; their median PT is $66.24 - LSEG data
** Up to last close, CMG stock has risen 13.2% YTD vs 13.76% increase in S&P 500 index .SPX
Reporting by Nikhil Sharma in Bengaluru
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