DA Davidson analyst Matt Curtis lowered the firm’s price target on Shake Shack (SHAK) to $85 from $125 and keeps a Buy rating on the shares. The company reported softer-than-expected Q1 results, featuring restaurant-level margins below guidance despite an apparent reiteration on April 1st, the analyst tells investors in a research note. The firm adds that the hire of a new CFO should reduce the risk of a guidance misstep going forward.
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