Shake Shack price target raised to $85 from $75 at BTIG

BTIG analyst Peter Saleh raised the firm’s price target on Shake Shack to $85 from $75 and keeps a Buy rating on the shares. The company’s implementation of kiosks – a “proven sales-driving technology” – across its domestic restaurants will help generate mid-single-digit same-store sales growth and could result in several hundred basis points of labor savings as adoption increases, the analyst tells investors in a research note. This technology could also benefit throughput, especially at high-volume locations, and should lead to better order accuracy and guest satisfaction, the firm added.