Shake Shack price target raised to $80 from $70 at Oppenheimer

Oppenheimer raised the firm’s price target on Shake Shack to $80 from $70 and keeps an Outperform rating on the shares. The firm believe revenues can grow at least low-teens, driven by 2%+ SSS unit growth of low-to-mid-teens, the analyst tells investors in a research note. New leadership in 2024 could present positive catalysts, the firm adds.