Shake Shack price target raised to $110 from $100 at Wedbush

Wedbush analyst Nick Setyan raised the firm’s price target on Shake Shack to $110 from $100 and keeps a Neutral rating on the shares. Shake Shack’s Q1 EPS came in above expectations and 2024 top line guidance is largely in line with expectations, the analyst tells investors in a research note. Wedbush believes Q2 and 2024 margin guidance is realistic.