Shake Shack price target raised to $110 from $88 at UBS

UBS raised the firm’s price target on Shake Shack to $110 from $88 and keeps a Neutral rating on the shares. Shake Shack’s Q4 earnings results and commentary highlighted solid same-store sales trends, restaurant margin upside with ongoing opportunities, and 2024 EBITDA guidance above expectations, the analyst tells investors in a research note. The firm remains focused on opportunities for more significant long-term margin upside as a key catalyst.