Shake Shack price target raised to $99 from $60 at Loop Capital

Loop Capital raised the firm’s price target on Shake Shack to $99 from $60 but keeps a Hold rating on the shares. The analyst cites the company’s EPS and comps beat but also warns that its margins will likely remained constrained by inflation and higher spending at least in the near-term. The firm is also reducing its 2024 comps outlook to 2.4% from 2.5%.