Shake Shack (SHAK): Cutting Price Target to $36 - Jefferies
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Jefferies analyst, Andy Barish, reiterated his Hold rating on shares of Shake Shack (NYSE: SHAK) after the company reported strong 2Q EPS of $0.14, a penny above cons on record rest level margins of 30.8%. Nevertheless, with SSS at "just" 4.5% (on top of 12.9%) and lessening likelihood of significant upside surprises from here with increasing labor/G&A investment, the analyst suspects SHAK stock will be rangebound near-term in the $30s.
The price target of $36.00 drops from $38.00.
Shares of Shake Shack closed at $40.87 yesterday.
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