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Cowen upgrades Chipotle, names it a ‘best idea’ for 2020 because of digital sales

Cowen upgrades Chipotle, names it a 'best idea' for 2020 because of digital sales

A chicken burrito, guacamole, bag of tortilla chips, and a drink are arranged for a photograph at a Chipotle Mexican Grill Inc. restaurant in El Segundo, California, U.S., on Wednesday, July 25, 2018.

Fast food Mexican restaurant chain Chipotle is "better, faster" and "stronger" heading into the new year, according to Cowen, who just named the stock one of its best idea of 2020.

The firm upgraded shares of Chipotle to outperform from market perform and hiked its price target to $970 per share from $800. Chipotle shares closed at $786.51 a share on Monday.

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