Shake Shack (SHAK) PT Lowered to $85 at Stifel
- Dow, S&P post worst week in months after hawkish Fed spooks investors
- Fed-fueled dollar rises as bears make for exits
- Adobe (ADBE) Edges Higher After Topping Q2 Estimates, Analysts Raise PT on 'Impressive' Performance
- Fed Statement Very Bullish for Tech Stocks, Focus on Cloud and Cyber Stocks - Wedbush
- You Fight Real Physical Inflation With Rate Hikes, Not Talk of Rate Hikes; Buy the Dip in Commodities, Gold Underpriced - Goldman Sachs
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Stifel analyst Chris O\'Cull lowered the price target on Shake Shack (NYSE: SHAK) to $85.00 (from $90.00) while maintaining a Hold rating.
The analyst commented, "SHAK reported results below investor expectations last night, with stronger nominal SRS resulting in revenue underperformance, coupled with lower-than-expected margin. Absent a large tax benefit, EPS would have been well short of Street expectations. SHAK's 2Q guidance was also disappointing, resulting in meaningful downward earnings revisions. A favored idea for the "reopening trade" before the report, SHAK's results did not indicate it has been as strong a beneficiary as many might have expected. Moreover, given the difficulty in divining results for a system where only ~65% of locations are in the comp base, with outsized sales impacts from a handful of stores, we remain Hold rated until there is a greater sense of clarity around the long-term sales and margin outlook. We lowered our EPS estimates for FY21 to $0.00 (from $0.15) and FY22 to $0.60 (from $0.85)."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Commercial Metals Company (CMC) PT Raised to $34 at BMO Capital
- Link REIT (823:HK) (LKREF) PT Raised to HK$88 at HSBC
- Extra Space Storage (EXR) PT Raised to $178 at Stifel
Create E-mail Alert Related CategoriesAnalyst EPS View, Analyst PT Change
Related EntitiesStifel, Earnings
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!