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Fly News Breaks for December 12, 2018
SHAK
Dec 12, 2018 | 07:38 EDT
Stifel analyst Chris O'Cull adjusted his out-year estimates for Shake Shack after hosting a conference call with the company's CFO to reflect less G&A leverage as he expects the company to keep investing in support services to drive growth. Given the estimate shift, he lowered his price target on Shake Shack shares to $55 from $65 and keeps a Hold rating on the stock, stating that he believes cost pressures could limit margin leverage. However, O'Cull noted that management expressed a confident tone toward recent new unit performance and Shake Shack's long-term growth outlook.
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