Raymond James Maintains Outperform on Shake Shack, Lowers Price Target to $78
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Brian Vaccaro has maintained an 'Outperform' rating on Shake Shack (NYSE:SHAK), but lowered the price target from $87 to $78.
October 18, 2023 | 11:39 am
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Shake Shack's price target has been lowered from $87 to $78 by Raymond James, though the 'Outperform' rating is maintained.
The lowering of the price target by Raymond James could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained 'Outperform' rating indicates that the analyst still sees potential upside, which could counterbalance the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100