BTIG raised the firm’s price target on Shake Shack to $120 from $110 and keeps a Buy rating on the shares. The company is at a very interesting time in its history as it searches for a new leader and matures into a larger, national brand, the analyst tells investors in a research note. Some of the growth pillar that the next CEO should undertake include expanding its drive-thru presence, increasing advertising spend, and eventually introducing a loyalty program, the firm added.
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