Shake Shack price target lowered to $100 from $110 at Oppenheimer

Oppenheimer lowered the firm’s price target on Shake Shack (SHAK) to $100 from $110 and keeps an Outperform rating on the shares. The stock pullback appears to reflect investors’ doubting the model’s ability to achieve management’s financial guidance, the firm says. Despite strong Q1 same-store sales, April was slightly negative and the Q2 outlook assumes a meaningful acceleration. Management slightly reduced 2026 EBITDA guidance and consensus estimates are likely to fall by 3%-4% through 2027, suggesting the stock’s pullback is too harsh, argues Oppenheimer.