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Fly News Breaks for August 15, 2019
GRUB, SHAK
Aug 15, 2019 | 08:57 EDT
SunTrust analyst Jake Bartlett raised his price target on Shake Shack (SHAK) to $102 and kept his Buy rating after his investor meeting with its CEO, CFO, and members of the culinary team, saying the company is testing "new menu items, new cooking equipment and new processes. The analyst notes that Shake Shack's innovation slowed this year given the company's focus on building digital sales, but he expects LTOs to become a sales driver in 2020. Bartlett further notes that the company's shift to a single delivery partner GrubHub (GRUB) carries some "limited" near term risks but also "clear" long term benefits.
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