Shake Shack Inc (NYSE:SHAK) is trading higher Tuesday morning following a pair of analyst upgrades and price target raises. Shake Shack is an American fast-casual restaurant with a menu consisting of burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and more.
Wedbush analyst Nick Setyan upgraded Shake Shack from neutral to outperform and raised the price target from $114 to $118.Goldman Sachs analyst Jared Garber upgraded Shake Shack from neutral to buy and raised the price target from $107 to $109.
On Monday, the company announced that it will participate in a series of virtual investor conferences over the next month. The first in the series will take place when Shake Shack hosts a fireside chat at the Cowen 2nd Annual Digital Dining Summit on Thursday.
Earlier this month, the stock took some knocks after missing revenue targets.
One Cowen analyst put it thus: “"While 2Q same store sales guidance was a surprise, and we were expecting a faster recovery in AWS due to stimulus and a reopening of the economy, we came away from the call more concerned about longer term margin potential than top line. We do not view risk/ reward as compelling with FY2 EV/EBITDA above the high end of pre-COVID-19 17x-31x range off our lower 2023E."
SHAK shares climbed $8.23, or 9.7%, to $92.82
Related Stories
