Shake Shack price target lowered to $140 from $145 at Raymond James

Raymond James lowered the firm’s price target on Shake Shack (SHAK) to $140 from $145 and keeps a Strong Buy rating on the shares. The firm says softer near-term trends are more than offset by strong evidence of tighter operations and increased accountability that led to margin upside in Q1, raised multi-year margin guidance, and accelerating high-Return on Investment unit growth, the analyst tells investors in a research note. Raymond James is optimistic that a recent return to positive comps in the last two weeks of April can sustain through Q2.