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Fly News Breaks for May 7, 2018
SHAK
May 7, 2018 | 07:15 EDT
JPMorgan analyst John Ivankoe downgraded Shake Shack to Underweight while raising his price target for the shares to $49 from $40. The burger chain closed Friday up 18%, or $8.54, to $55.95. The analyst cites valuation for the downgrade to Underweight. Ivankoe, however, maintains the "highest praise for management, the brand, and continued industry leading growth."
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