BofA has revised its price target for Shake Shack (SHAK, Financial), reducing it from $110 to $89, while maintaining a Neutral rating for the company's stock. This adjustment forms part of a broader evaluation of over 20 companies within its restaurant sector coverage, addressing both estimates and market multiples.
The recalibration is part of BofA's quarterly review for the first quarter, aiming to align price targets with current market conditions and performance expectations within the restaurant industry. This strategic move reflects an ongoing effort to provide accurate guidance based on the latest financial data and market trends.
