Truist raised the firm’s price target on Shake Shack to $112 from $90 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 adjusted EBITDA and comps beat, along with its stronger than expected FY24 guidance. The outlook for comps looks “solid” as traffic at Shake Shack has turned positive, and the company’s margin expansion story also remains in “very early stages”, the firm tells investors in a research note.
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Read More on SHAK:
- Shake Shack (NYSE:SHAK) Skyrockets on Impressive Q4 Numbers
- Shake Shack’s Year-End Shareholder Letter Released
- Shake Shack reports Q4 adjusted EPS 2c, consensus 1c
- Notable companies reporting before tomorrow’s open
- Shake Shack to participate in a conference call with Wedbush
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