Chipotle Mexican Grill Inc (NYSE:CMG) shares rose on Thursday, after the company reported upbeat first-quarter (Q1) results.

Here are the key analyst insights:

Stephens analyst Jim Salera maintained an Equal-weight rating, while raising the price target from $38 to $39.

TD Cowen analyst Andrew Charles reiterated a Buy rating and price target of $44.

BTIG analyst Peter Saleh reaffirmed a Buy rating and price target of $45.

Check out other analyst stock ratings.

Stephens: Chipotle Mexican Grill reported better-than-expected results for the first quarter, Salera said in a note. He added that the key points were:

Comparable restaurant sales growth of 0.5%, better than consensus of a decline of 0.8%

Restaurant level margins of 23.3%, topping consensus of 23.1%

Adjusted earnings of 24 cents per share, in-line with expectations

The "more important takeaway" from the earnings call was the company's forward comp outlook, the analyst stated. Management kept their full-year comp guidance flat.

However, commentary "pointed to demand moving in the right ...