Shake Shack (SHAK) CFO Steps Down, Goldman Sachs Reiterates Neutral
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Goldman Sachs analyst Jared Garber reiterated a Neutral rating and $125.00 price target on Shake Shack (NYSE: SHAK) after the company announced that its CFO, Tara Comonte would be stepping down to take a CEO role at a private company within the life sciences/women’s health industry. Ms. Comonte joined SHAK in 2017 as CFO and was promoted in October 2019 to President and CFO, which came with the added responsibilities of scaling the company’s infrastructure, broadening support and guidance across day-to-day operations, and ensuring the successful execution of the SHAK’s strategic priorities.
The analyst stated "although we do understand that this transition could bring some investor uncertainty given the scale of Ms. Comonte’s responsibilities. The management team was quick to highlight the strong corporate infrastructure and strong balance sheet position that Ms. Comonte helped build during her tenure as CFO. We believe this foundation — across finance, operations, marketing, and digital — built over the last several years positions the company well to manage through the transition and maintain is strategic priorities of unit development and digital engagement."
Shares of Shake Shack closed at $110.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KB Financial Group (105560:KS) (KB) PT Raised to KRW67,500 at Morgan Stanley
- Origin Energy Ltd. (ORG:AU) (OGFGY) PT Lowered to AUD6.50 at Goldman Sachs
- Champion Iron Ltd. (CIA:CN) (CHPRF) PT Raised to Cdn$6 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesGoldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!