Shake Shack price target raised to $110 from $85 at BTIG

BTIG analyst Peter Saleh raised the firm’s price target on Shake Shack to $110 from $85 and keeps a Buy rating on the shares. The company’s Q4 results were very impressive, with better-than-expected traffic, restaurant margins and EBITDA, finally shining a light on the multitude of its growth drivers, the analyst tells investors in a research note. Shake Shack is now playing offense after several years of waiting for a sales recovery in its key markets, reinvesting a portion of the margin gains back into traffic-driving efforts, the firm added.