Shake Shack price target lowered to $145 from $160 at Raymond James

Raymond James analyst Brian Vaccaro lowered the firm’s price target on Shake Shack (SHAK) to $145 from $160 and keeps a Strong Buy rating on the shares as part of a Q1 preview for the restaurant group. The firm maintains a “selective stance” towards restaurant stocks heading into Q1 earnings. It expects “choppy” Q1 results reflecting widening performance gaps between share gainers and losers, tariff updates reflecting a relatively low direct cost and margin impact for U.S. domestic restaurants, and a cautious tone from most management teams as it relates to the U.S. macro outlook and international trends.