Raymond James bullish on Shake Shack, Chipotle, Wingstop on strong growth, innovation

Wingstop

17/10/2024 12:40

** Brokerage Raymond James raises PT on some restaurant
chain operators citing strong traffic, brand marketing and menu
innovations
    ** Raises Shake Shack's  SHAK.N  PT to $130 from $125;
expects price hikes and return-to-office dynamics to boost
traffic
    ** Raises Wingstop's  WING.O  PT to $435 from $420; notes
sustained market share gains with marketing initiatives along
with higher brand awareness, product innovation and channel
extensions
    ** Hikes PT on Chipotle Mexican Grill  CMG.N  by $3 to $65
    ** CMG continues to see strong traffic; believe several
tests of new equipment like Autocado robot to yield benefits in
the long term - brokerage
    ** Up to last close, SHAK up about 48% so far this year,
WING up ~47% YTD, CMG up ~29% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com;))