Stifel Upgrades Shake Shack to Buy Amid Earnings-Driven Sell-Off
Shake Shack's stock fell 28% after reporting breakeven first-quarter earnings and missing same-store sales expectations. Stifel upgraded the stock to 'buy' from 'hold' and set a new price target of $85, implying 23% upside. Analysts believe the market overreacted, citing potential for EBIT margin expansion and improved free cash flow.
Tickers: $SHAK
Topics: analyst report earnings restaurant industry stock upgrade