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UPDATE: Raymond James Starts Shake Shack (SHAK) at Underperform

January 8, 2020 4:20 PM EST
Get Alerts SHAK Hot Sheet
Price: $72.34 +2.76%

Rating Summary:
    8 Buy, 13 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 70
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(Updated - January 9, 2020 7:03 AM EST)

(updating comment)

Raymond James analyst Brian Vaccaro initiates coverage on Shake Shack (NYSE: SHAK) with a Underperform rating.

The analyst comments "We initiate coverage of SHAK at Underperform as we believe Street expectations for 2020/2021 seem overly optimistic and create further downside risk from still elevated valuation levels (2020 EV/EBITDA ~26x). These concerns outweigh our generally constructive view of the Shake Shack concept and its long-term growth prospects, though we believe long-term investors may be presented with a better entry point over the next few quarters as expectations further reset."

For an analyst ratings summary and ratings history on Shake Shack click here. For more ratings news on Shake Shack click here.

Shares of Shake Shack closed at $61.30 yesterday.

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