Shake Shack: ‘Any Way You Stack It…SHAK is Expensive’
July 07, 2015 at 10:56 AM EDT
Morgan Stanley’s John Glass and team explain why they downgraded Shake Shack (SHAK) to Underweight from Equal Weight: Mikayla Whitmore/Associated Press We are downgrading Shake Shack to UW from EW on valuation, while maintaining our $38 PT, which is derived from an average of our $25 base case and a $50 bull case. At ~$59, Shake Shack [...]
