Shake Shack (SHAK) PT Raised to $122 at Baird

Baird analyst David Tarantino raised the price target on Shake Shack (NYSE: SHAK) to $122.00 (from $106.00) while maintaining a Neutral rating.

The analyst commented: "Maintaining Neutral rating. The Q3 report represented another encouraging update in the company's ongoing journey to strengthen profitability, and we also were reassured that comps/traffic are continuing to hold up well despite a difficult consumer spending backdrop. We are more positive on internal fundamentals, but with same-store traffic hovering near flat and pricing rolling down in 2025E, the margin for error on profitability performance could start to narrow. As such, while bullish on longer-term term prospects, we are taking a patient approach with our near-term recommendation at current valuation metrics."

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