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Fly News Breaks for February 25, 2020
SHAK
Feb 25, 2020 | 06:12 EDT
Piper Sandler analyst Nicole Miller Regan lowered the firm's price target on Shake Shack to $89 from $97 and reiterates an Overweight rating on the shares. Shake Shack continues to perform fundamentally and benefit from scarcity value in relation to the restaurant cycle, Miller Regan tells investors in a post-earnings research note. Despite after market volatility the brand remains well positioned for "substantial" unit growth domestically and abroad, adds the analyst. She believes "committed investors" should continue buying Shake Shack shares.