Shake Shack Dropped From Analyst Favorites
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Shake Shack shares fell after Raymond James removed the stock from its Favorites List due to softer industry trends affecting fourth-quarter results. Despite this, the firm maintained a Buy rating, citing long-term potential. Analyst Brian Vaccaro highlighted Shake Shack's strengths that could lead to improved sales and margins when the restaurant environment stabilizes. The company faces challenges from rising food and labor costs, pushing consumers towards traditional fast-food options. Shake Shack's shares are down 37% over the past year, with Q4 earnings expected on February 20, projecting EPS of $0.38 and sales of $410 million.
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