Shake Shack price target raised to $105 from $102 at Baird

Baird analyst David Tarantino raised the firm’s price target on Shake Shack to $105 from $102 and keeps a Neutral rating on the shares. The firm said Q1 EBITDA/EPS exceeded estimates on solid margin performance. They remain encouraged by the company’s ongoing progress on improving profitability, which is providing visibility to the earnings outlook and increasing confidence in longer-term growth fundamentals.