Shares of Chipotle Mexican Grill, Inc. have plunged from above $530 in early March 2016 to below $450 on April 13. JPMorgan’s John Ivankoe upgraded the rating for the company from Neutral to Overweight, while raising the price target from $465 to $510. Chipotle’s current stock valuation does not reflect the prospects of an earnings recovery, analyst John Ivankoe mentioned.