Shake Shack Inc (SHAK) Slips After Bearish Analyst Reports

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Shake Shack Inc (SHAK) Slips After Bearish Analyst Reports

Shake Shack Inc (MYSE:SHAK) shares declined more than 2% to as low as $35.78 during regular trading hours on Thursday following a bearish initiation report by analysts at Wedbush. They think the company’s valuation is just too high and implies that its sales opportunity is much larger than what management has guided for.

In addition to Wedbush’s bearish initiation report, analysts at Vetr also downgraded the dining chain from Buy to Hold and set their price target at $37.50 per share.

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