Goldman Sachs thinks Shake Shack could surge 80% in just one year, fueled by an exclusive partnership with GrubHub
On Wednesday, Goldman Sachs raised its 12-month price target on shares of the restaurant chain to $115 based on a long-term discounted cash flow that contemplates 645 company-owned units and 850 domestic and international licensed units by 2038, according to a Wednesday note.
So far,"details around the GRUB integration suggest the disruption could be more manageable than feared," Fogertey wrote. Shake Shack had when earnings showed that same-store sales growth was lower than expected, driven in part by the transition to GrubHub.
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