JP Morgan Maintains Underweight on Shake Shack, Raises Price Target to $100
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst John Ivankoe has maintained an Underweight rating on Shake Shack (NYSE:SHAK) but raised the price target from $65 to $100.
March 04, 2024 | 4:16 pm
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JP Morgan has maintained an Underweight rating on Shake Shack but increased the price target from $65 to $100.
While the Underweight rating suggests skepticism about Shake Shack's stock performance, the significant increase in the price target from $65 to $100 indicates a positive adjustment in the valuation model or future earnings expectations by JP Morgan. This mixed signal could lead to short-term uncertainty among investors, potentially stabilizing the stock price as the market digests the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100