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Shake Shack downgraded to Underweight from Equal Weight at Morgan Stanley
The Fly

Shake Shack downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Brian Harbour downgraded Shake Shack to Underweight from Equal Weight with a price target of $47, down from $50. The analyst is stepping to the sidelines amid a focus on unit growth visibility, new unit performance, margins, cash generation/self-funding, value proposition and potential category/sales defensiveness in the sector, Harbour tells investors in a research note.

Published first on TheFly

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