As previously reported, Credit Suisse analyst Lauren Silberman initiated Shake Shack with an Outperform and $77 price target. The analyst believes brand affinity and on-trend initiatives support demand, while strong unit economics and demonstrated success across markets offer confidence in the whitespace potential. Sustained new unit productivity, timing of opens, same-store sales and unit growth represent opportunities for upside to numbers, she contends, adding that growth in penetrated markets should help the company leverage costs and increase efficiency over time.

Raymond James raised the firm's price target on Brinker (EAT) to $54 from $50 and keeps a Strong Buy rating on the shares. The firm maintains a selective stance towards its restaurant coverage universe as industry sales have underwhelmed in recent months, causing Raymond James to increasingly favor stocks it view as having "idiosyncratic factors trading at attractive valuations," such as Brinker, Shake Shack (SHAK), First Watch (FWRG) and Bloomin' Brands (BLMN), the analyst tells investors in a group earnings preview note.