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.
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Read More on SHAK:
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- Shake Shack: Hold Rating Amid Promising Margins and Cautious Growth Expectations
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