Why Shake Shack Is Trading Higher Today

Shake Shack Inc (NYSE: SHAK) is trading higher Tuesday morning following a pair of analyst upgrades and price target raises.

Shake Shack is an American fast-casual resturant with a menu consisting of burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and more.

What Happened: Wedbush analyst Nick Setyan upgraded Shake Shack from Neutral to Outperform and raised the price target from $114 to $118.

Goldman Sachs analyst Jared Garber upgraded Shake Shack from Neutral to Buy and raised the price target from $107 to $109.

On Monday, the company announced that it will participate in a series of virtual investor conferences over the next month. The first in the series will take place when Shake Shack hosts a fireside chat at the Cowen 2nd Annual Digital Dining Summit on May 27.

See Also: Shake Shack: Q1 Earnings Insights

SHAK Price Action: Shake Shack traded as high as $138.38 and as low as $47.12 over a 52-week period.

At last check Tuesday, the stock was up 6.4% in premarket trading at $90.

Photo by Jeff Keyzer from Flickr.