Shake Shack Upgraded to Neutral by BofA on Improving Traffic Trends, Shares Rise 3%

BofA Securities upgraded Shake Shack (NYSE: SHAK) to Neutral from Underperform and raised its price target to $101 from $88, with shares rising more than 3% in pre-market trading Tuesday. The firm said recent menu innovation—including offerings such as the Dubai Shake and Korean-inspired items—developed through the company’s structured stagegate process, which evaluates culinary, operational, and financial standards, has contributed to stabilizing same-store traffic following prior declines. Additionally, v ...