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Shake Shack (SHAK) Upgraded at Two Wall Street Firms Following Q1 Sell-Off

May 25, 2021 7:00 AM EDT

Shake Shack (NYSE: SHAK) was upgraded to Buy at two Wall Street banks Tuesday following the ~20% drop in the stock since post Q1 results. The sell-off is seen as an opportunity to load up on the shares ahead of a significant post-COVID growth trajectory.

Goldman Sachs analyst Jared Garber upgraded shares to Buy with a $109 price target. Garber sees the top-line recovery for the company as more prolonged given its small comp base, and more importantly, its strong tether to urban and tourist-driven locations.

"The companys small size and... More