Truist raised the firm’s price target on Shake Shack (SHAK) to $154 from $143 and keeps a Buy rating on the shares. The firm cites the company’s Q4 earnings beat, solid Q1 comps guidance, and increased FY25 adjusted EBITDA guidance, the analyst tells investors in a research note. The continued same-store-sales momentum into Q1 – despite weather/wildfire headwinds, a promotional mismatch, and an uncertain macro backdrop – are a strong indication of Shake Shack’s solid positioning, the firm adds.
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