Wells Fargo analyst Anthony Trainor lowered the firm’s price target on Shake Shack (SHAK) to $90 from $100 and keeps an Equal Weight rating on the shares. Post 2025 sector underperformance, the firm is bullish on the early 2026 setup via stimulus tailwinds, easier compares, poor sentiment and cheap price to earnings. But industry issues persist, second half of the year drivers lack conviction and selectivity are likely warranted, Wells adds.
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