Shake Shack price target raised to $120 from $110 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Shake Shack (SHAK) to $120 from $110 and keeps a Hold rating on the shares. Shares are up based on the quarter-to-date momentum in January, despite impacts from weather and other disruptions anticipated to weigh on the balance of the quarter, the analyst tells investors in a research note. Stifel is constructive on management’s ability to continue delivering efficiencies that boost margin performance, but would like more evidence that sales-driving initiatives can sustainably grow traffic.