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.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHAK:
- Shake Shack price target raised to $140 from $125 at TD Cowen
- Shake Shack price target raised to $140 from $130 at BTIG
- Shake Shack price target raised to $125 from $115 at Barclays
- Shake Shack price target raised to $130 from $110 at Wedbush
- Shake Shack price target raised to $122 from $105 at Baird