Shake Shack price target lowered to $70 from $80 at Oppenheimer

Oppenheimer lowered the firm’s price target on Shake Shack to $70 from $80 and keeps an Outperform rating on the shares. For Q3, Shake Shack delivered solid restaurant margins and an EBITDA beat and management increased guidance for restaurant margins and EBITDA, which should force positive revisions to the Street’s $125.7M EBITDA estimate, the analyst tells investors in a research note.