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Fly News Breaks for January 7, 2020
SHAK
Jan 7, 2020 | 07:17 EDT
MKM Partners analyst Brett Levy lowered his price target for Shake Shack to $65 from $75 and made no change to his Neutral rating, noting that shares have pulled back from mid-3Q19 levels as uncertainty exists related to initiatives and investments, potentially leaving some investors in a state of limbo, before fully buying-in. Levy tells investors in a research note that he believes the combined uncertainty/concerns and premium valuation may continue to weigh on near-term results, overshadowing the longer-term prospects.
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