Truist raised the firm’s price target on Shake Shack (SHAK) to $160 from $150 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results for Limited Service Restaurants, or LSR. Truist is bullish on Shake Shack shares despite its strong recent performance as it expects the company will deliver positive comps, expanding margins and strong unit growth long-term vs. just unit growth in the past, the analyst tells investors in a research note.
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