Jefferies Remains Sidelined on Shake Shack (SHAK) Following 1Q
Jefferies maintained a Hold rating and $40.00 price target on Shake Shack (NYSE: SHAK) following the company's 1Q earnings report.
Analyst Andy Barish commented, "SHAK continues to display very powerful operating metrics across all key areas and defy the difficult, competitive operating environment seen in most sectors, even fast-casual. This unique "fine-casual" brand beat on sss, margins, EPS and EBITDA and raised full year guidance. We do the same, going to EBITDA of $38/55mm for '16/'17 (from $36.6/49mm) and believe conservativeness may still be in model. We continue at Hold."
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Shares of Shake Shack closed at $34.26 yesterday.