The recent news of Brian Niccol leaving Chipotle Mexican Grill (NYSE:) to become CEO of Starbucks has sparked significant moves in both companies’ stock prices, as well as a flurry of opinions among analysts, many of whom have been discussing the future of Chipotle stock.

T.D. Cowen remains bullish on Chipotle, maintaining a Buy rating and a $105 price target on the stock. The bank said in a note that investors generally believe Niccol’s successor will eventually stabilize the U.S. move, but concerns about long-term margins and valuation persist.

The TD Cowen report highlights that Chipotle’s stock pull could be an attractive entry point given the company’s solid strategy around operations, marketing, and digital innovation. They add that bulls are bullish, citing a $120 price target based on a 30x FY1 P/E ratio, while bears are concerned about a potential slowdown in traffic over the next year.

Evercore ISIhowever, takes a more cautious approach. They lowered their price target from $65 to $59, reflecting concerns about the CEO change. However, they maintained an Outperform rating on the stock.

While Evercore recognizes the solid foundation Niccol has built at Chipotle, it believes his departure is justified by a lower target multiple. Still, Evercore still sees 15% upside potential, confident in the management team’s ability to execute on its established strategy.

Pressure also maintains a Buy rating, emphasizing that Chipotle’s strategic priorities remain intact. They emphasize the company’s growth potential through recent Chipotle units and improvements to its digital and technology capabilities.

However, Stifel warns that retaining top talent will be crucial to avoiding disruption during the transition.

KeyBanc Capital Markets echoes this sentiment, calling the market reaction indicative of the significance of Niccol’s departure. They stress that the improvements under Niccol provide a solid foundation, but warn that any further leadership departures could pose additional risks.

Overall, analysts acknowledge that the CEO transition comes with its own set of challenges, but they remain bullish on Chipotle stock.