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Fly News Breaks for February 26, 2019
SHAK
Feb 26, 2019 | 06:23 EDT
Shake Shack's same-store sales in Q4 were better than expected and its earnings were above consensus, Piper Jaffray analyst Nicole Miller Regan tells investors in a research note. The analyst reiterates an Overweight rating on the name while dropping her price target to $59 from $62. She continues to argue that Shake Shack shares are undervalued when considering the restaurant industry cycle and the scarcity value of double-digit unit development and the one-third of its base that is asset-light.
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