Truist lowered the firm’s price target on Shake Shack (SHAK) to $156 from $162 but keeps a Buy rating on the shares. The company’s menu pricing, beef costs, and the Truist Card Data that points to a SSS beat suggest very little risk to Q3 results or FY25 guidance, the analyst tells investors in a research note. Shake Shack has increased its entry level prices very little, and the firm views the pricing as a matter of timing shifted from October, the firm added.
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