Chipotle seared by analyst cuts

Shares of Chipotle Mexican Grill lost more ground on Monday, after analysts cut stock price targets and raised doubts about whether the burrito chain can raise menu prices to offset higher costs.

The chain’s stock shed nearly 13 percent of its value last week on reports of a Norovirus outbreak at a restaurant in Sterling, Va., and mice in a Dallas eatery. The shares slipped another 1.6 percent, to $339.98, at Monday’s close, after touching $336.65, their lowest intraday level since April 2013.

The move in the stock reveals the fragility of Chipotle’s recovery from a salescrushing string of food safety outbreaks in late 2015, when public health officials linked E. coli, Salmonella and Norovirus outbreaks to the chain.

Chipotle’s stock flirted with $750 prior to the food safety lapses.

CFRA Research analyst Tuna Amobi on Monday chopped his 12-month price target by more than a third, reducing it by $190 to $350 per share, and downgraded Chipotle shares to “hold” from “buy.”

On Monday, the Loudoun County Health Department said a second person tested positive for Norovirus after dining at the Chipotle restaurant in Sterling, Va. That restaurant was briefly closed last week for a deep cleaning.