Yahoo Finance

Stifel analyst Chris O’Cull lowered the firm’s price target on Shake Shack (SHAK) to $110 from $128 and keeps a Hold rating on the shares after the company pre-released Q4 comps roughly in line along with adjusted EBITDA above the firm’s and the Street’s projection in conjunction with presentations at the ICR conference. The company also initiated three-year financial growth targets, raised the company-owned unit potential to 1,500 from 450 at IPO and updated its unit economic targets for new company-owned stores, the analyst noted.

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