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SHAK

Shake Shack

$45.10

-0.61 (-1.33%)

08:49
12/19/18
12/19
08:49
12/19/18
08:49

Jefferies upgrades Shake Shack to Neutral with valuation 'back to earth'

Jefferies analyst Andy Barish upgraded Shake Shack to Hold from Underperform with an unchanged price target of $45. The burger chain closed yesterday down 67c to $45.08. The analyst believes the stock is now fairly valued and reflects the company's "evolving" margin profile. Shake Shack's valuation "has come back to earth" as its "best-in-class," 20%-plus development and multiple same-store-sales drivers are balanced by "choppy" same-store-sales and "shifting" margin profile, Barish tells investors in a research note.

SHAK Shake Shack
$45.10

-0.61 (-1.33%)

12/19/18
JEFF
12/19/18
UPGRADE
JEFF
Hold
Shake Shack upgraded to Hold from Underperform at Jefferies
12/12/18
STFL
12/12/18
NO CHANGE
Target $55
STFL
Hold
Shake Shack price target lowered to $55 from $65 at Stifel
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.
11/06/18
11/06/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Square (SQ) upgraded to Buy from Neutral at Citi with analyst Peter Christiansen saying in addition to "robust" user acquisition spending, Square's planned ~35% headquarter expansion signals confidence in continued platform growth. 2. Shake Shack (SHAK) upgraded to Buy from Neutral at Longbow. 3. Enbridge (ENB) upgraded to Outperform from Market Perform at Wells Fargo with analyst Praneeth Satish saying Enbridge has eliminated funding concerns with asset sales and is now on a path to equity self-funding its entire five-year secured capex backlog. 4. Kosmos (KOS) upgraded to Buy from Neutral at Goldman Sachs with analyst Neil Mehta citing valuation. 5. Calix (CALX) upgraded to Outperform from Market Perform at Cowen with analyst Paul Silverstein citing the strong Q3 results and outlook along with a growing number of data points he sees that support the view that its new AXOS, EXOS and Cloud platforms will drive an inflection in profitable growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/06/18
11/06/18
UPGRADE
Target $60

Buy
Shake Shack upgraded to Buy after selloff at Longbow
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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