$SHAK is climbing after getting some love from $GS.
Goldman Sachs keeps a Buy rating on Shake Shack (SHAK +8.9%) after digesting the company's ICR presentation yesterday.
The firm sees significant upside from the restaurant operator's new partnership with Grubhub in particular.
"As part of the partnership, GRUB has provided SHAK with detailed customer data, as well as marketing resources such as loyalty and targeted promotions," notes analyst Katherine Fogertey.
She is also positive on the menu innovation highlighted yesterday by Shake Shack management at the ICR Conference.
Goldman's price target of $115 on Shake Shack reps +60% upside potential and is well-above the average sell-side PT of $75.00 and 52-week high of $105.84.
Shares of Shake Shack were back over $70 for the first time since early November.
Shake Shack (NYSE:SHAK) also gained after presenting at the ICR Conference.
A key highlight from the restaurant operator was the plan to expand at a measured pace in China, South Korea and Singapore.
As for menu innovation, new chicken products are planned for the middle part of the year and the restaurant operator is set to introduce a veggie burger later in the year.
The company sees improving Shack-level operating margin by working on long-term economies of scale in the supply chain and accelerating the use of technology to deliver labor efficiencies.
As always, trade with caution and use protective stops.
Good luck to all!
Goldman Sachs keeps a Buy rating on Shake Shack (SHAK +8.9%) after digesting the company's ICR presentation yesterday.
The firm sees significant upside from the restaurant operator's new partnership with Grubhub in particular.
"As part of the partnership, GRUB has provided SHAK with detailed customer data, as well as marketing resources such as loyalty and targeted promotions," notes analyst Katherine Fogertey.
She is also positive on the menu innovation highlighted yesterday by Shake Shack management at the ICR Conference.
Goldman's price target of $115 on Shake Shack reps +60% upside potential and is well-above the average sell-side PT of $75.00 and 52-week high of $105.84.
Shares of Shake Shack were back over $70 for the first time since early November.
Shake Shack (NYSE:SHAK) also gained after presenting at the ICR Conference.
A key highlight from the restaurant operator was the plan to expand at a measured pace in China, South Korea and Singapore.
As for menu innovation, new chicken products are planned for the middle part of the year and the restaurant operator is set to introduce a veggie burger later in the year.
The company sees improving Shack-level operating margin by working on long-term economies of scale in the supply chain and accelerating the use of technology to deliver labor efficiencies.
As always, trade with caution and use protective stops.
Good luck to all!
To receive our alerts via email and SMS, join Insider Financial for Free at signup.insiderfinancial.com
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/