Morgan Stanley Upgrades Shake Shack to Equal-Weight, Raises Price Target to $63
Portfolio Pulse from richadhand@benzinga.com
Morgan Stanley analyst Brian Harbour upgrades Shake Shack (NYSE:SHAK) from Underweight to Equal-Weight and raises the price target from $52 to $63.
May 19, 2023 | 9:37 am
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Shake Shack upgraded to Equal-Weight by Morgan Stanley, with a raised price target of $63.
Morgan Stanley's upgrade of Shake Shack from Underweight to Equal-Weight and the increase in price target from $52 to $63 indicates a positive outlook for the stock. This news is likely to have a positive short-term impact on SHAK's stock price as investors may view the upgrade as a sign of improved financial performance and growth potential.
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IMPORTANCE 80
RELEVANCE 100