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Fly News Breaks for November 6, 2018
SHAK
Nov 6, 2018 | 09:53 EDT
As previously reported, Longbow analyst Alton Stump upgraded Shake Shack to Buy from Neutral prior to the market open, stating that while the sharp negative reaction to Shake Shack's comp miss in Q3 was not surprising, he sees nothing wrong fundamentally with the business model that led to the "modest" sequential deceleration in comps last quarter. Stump, who is confident Shake Shack's same-store sales profile can return to at least low-single digit growth over the next year, set a $60 price target on the shares.
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