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Fly News Breaks for March 8, 2017
SHAK
Mar 8, 2017 | 08:14 EDT
Goldman analyst Karen Holthouse said Shake Shake reported in-line Q4 earnings of 9c but believes investors are too dismissive regarding decelerating traffic trends. The analyst continues to view cannibalization as a growing risk to Shake Shack's traffic trends and said openings outside of New York have substantially less excitement. Holthouse also sees increased labor challenges from staffing growth and increased compensation rates ahead of market rates. The analyst rates Shake Shack a Sell and lowered its price target to $34 from $38.
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