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[jimmybob]

Northcoast upgrades Shake Shack on same-store-sales recovery
Northcoast analyst Jim Sanderson upgraded Shake Shack to Buy from Neutral with a $70 price target. The analyst expects Shake Shack to drive same-store-sales growth from a combination of menu pricing, traffic and unit growth. Sanderson is "optimistic" that the company's sales leverage will eventually overcome near-term cost inflation and sees opportunity for Shake Shack to "excel" with menu innovation as the U.S. consumer returns to normal mobility patterns, and international tourism traffic returns. Shake Shack continues to experience a recovery of lost traffic in urban markets, while driving average unit revenue growth across regions, Sanderson tells investors in a research note