Truist raised the firm’s price target on Shake Shack (SHAK) to $144 from $127 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s solid comps in Q3 and October give the firm increased confidence in its near-term price/value consumer positioning and the sustainability of its drivers, the analyst tells investors in a research note. Truist adds that it continue to view margin expansion as a significant opportunity for Shake Shack.
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