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Fly News Breaks for February 25, 2020
SHAK
Feb 25, 2020 | 07:28 EDT
Credit Suisse analyst Lauren Silberman lowered her price target for Shake Shack to $76 from $83 after the company reported a "disappointing" quarter, with Q4 same-store sales below expectations, driven by a challenging compare, less menu innovation, decelerating delivery sales growth and new unit opens concentrated in existing markets. While near-term sentiment is likely to skew more negative, a return to positive same-store sales later in the year and stabilization in restaurant margin should get investors more constructive on shares, she contends. The analyst has an Outperform rating on the shares.