Shake Shack price target raised to $115 from $110 at Barclays

Barclays analyst Jeffrey Bernstein raised the firm’s price target on Shake Shack (SHAK) to $115 from $110 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the restaurant group. Comps eased to start Q3 before stabilizing at lower levels, the analyst tells investors in a research note. The firm says that while all are vulnerable to a lower-income consumer, quick service’s value push has been effective. Otherwise, inflation and pricing continue to ease, adds Barclays.