Oppenheimer raised the firm’s price target on Shake Shack (SHAK) to $160 from $125 and keeps an Outperform rating on the shares. The firm said it carefully re-evaluated its thesis following a +52% run in shares thus far during Q2, surpassing its previous price target Oppenheimer’s updated analysis positions Shake Shack to remain in its “top picks,” and it believes the stage is set for positive EBITDA revisions through 2026. The firm added that it is bullish on the company’s strengthening unit economics and exponential expansion potential.
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