Fly News Breaks for February 21, 2020
Feb 21, 2020 | 07:22 EDT
SunTrust analyst Jake Bartlett downgraded Shake Shack to Hold from Buy with a price target of $79, down from $82. The analyst believes that the company is "one of the strongest growth and brands" in the restaurant space, but he is concerned about its prospects over the near to medium term, with "unusually low" visibility on its same-store-sales amid the transition to a single-delivery partner. Following a 29% year-to-date run in, Bartlett believes that Shake Shack risk-reward is more balanced.
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