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.
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