Oppenheimer lowered the firm’s price target on Shake Shack (SHAK) to $145 from $160 and keeps an Outperform rating on the shares. The firm notes the company delivered strong Q3 results with same-store sales upside along with a solid EBITDA beat. As industry-wide trends soften into Q4, Shake Shack disclosed respectable October comps of +1.3% and low single-digit Q4 guidance.
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