Shake Shack up after Loop Capital upgrades to 'buy' from 'hold' on sales growth

Shake Shack

01/04/2025 14:45

** Shares of fast food chain operator Shake Shack SHAK.N up ~2% at $90.20 in early trading

** Brokerage Loop Capital raises rating on stock to "buy" from "hold" with PT of $127, citing better-than-expected comparable sales growth over the last three quarters in a row

** Co to remain focused on key platforms including successful limited-time-offers such as Black Truffle Burgers and Fries, as well as sustained emphasis on rapidly growing digital sales and improved in-store labor productivity - brokerage

** Says SHAK has minimal exposure to the escalating tariff situation since the company sources nearly all its ingredients domestically

** Twelve of 25 brokerages rate the stock "buy" or "higher", 12 "hold" and one "sell"; their median PT is $134, as per estimates compiled by LSEG

** Up to last close, stock fell nearly 32% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com;))