Shake Shack price target raised to $123 from $115 at Jefferies

Jefferies raised the firm’s price target on Shake Shack (SHAK) to $123 from $115 and keeps a Hold rating on the shares. The firm views 2025 as “poised to be a largely normal year for Restaurants,” with a competitive landscape in value proposition, fighting for traffic share in a cautious consumer environment and “perhaps more separation” between relative winners and losers, the analyst tells investors in a Restaurants and Foodservice Distribution outlook note. In Restaurants, the analyst’s top pick is McDonald’s (MCD) and in Foodservice Distribution the firm’s top pick is Performance Food Group (PFGC), the analyst noted.