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Fly News Breaks for May 18, 2017
SHAK
May 18, 2017 | 06:56 EDT
Wedbush analyst Nick Setyan upgraded Shake Shack to Outperform and raised his price target for the shares to $43 from $33. The burger chain closed yesterday up 52c to $36.65. The valuation at current share levels is attractive given Shake Shack's "industry-leading growth trajectory," Setyan tells investors in a research note. The analyst sees upside potential to current EBITDA estimates from new unit outperformance, margin leverage and same-store-sales growth.
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