Shake Shack price target raised to $122 from $105 at Baird

Baird raised the firm’s price target on Shake Shack (SHAK) to $122 from $105 and keeps a Neutral rating on the shares. The firm said the Q3 report represented another encouraging update in the company’s ongoing journey to strengthen profitability, and reassured that comps/traffic are continuing to hold up well despite a difficult consumer spending backdrop.