Shake Shack price target raised to $130 from $110 at Wedbush

Wedbush analyst Nick Setyan raised the firm’s price target on Shake Shack (SHAK) to $130 from $110 and keeps a Neutral rating on the shares following solid Q3 and guidance. The firm views Shake Shack’s current valuation as an accurate reflection of its ultimate global unit opportunity and long-term unit economics, corroborated by ongoing improvements in both top- and bottom-line near-term trends.