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Fly News Breaks for February 25, 2020
Feb 25, 2020 | 09:09 EDT
SunTrust analyst Jake Bartlett lowered his price target on Shake Shack to $71 and kept his Hold rating, saying the company's disappointing guidance for FY20 comps reinforces his concerns about its transition to a single delivery partner and rising cannibalization. The analyst adds that while Shake Shack's restaurant margin guidance was stronger than expected, he sees a delivery decline over the next few quarters along with more sales cannibalization.
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