Shake Shack price target raised to $162 from $160 at Truist

Truist analyst Jake Bartlett raised the firm’s price target on Shake Shack (SHAK) to $162 from $160 and keeps a Buy rating on the shares after its Q2 results and guidance. The stock’s pullback on earnings creates a “significant buying opportunity” as its July comps of 3.2% appears to have a much smaller boost from the “Dubai Shake” launch than expected, given low awareness, the analyst tells investors in a research note.