Shake Shack price target cut to $76 as shares hit three-year low
SHAK•Shake Shack shares slid nearly 4% after Morgan Stanley downgraded the stock and cut its price target from $115 to $76, joining Wells Fargo’s reduction to $60. The burger chain’s stock hit a three-year low near $53.90 and has fallen 32% in 2026 while call volume outpaces puts at a 2.44 ratio.
1. Analyst Downgrades and Price Targets
Morgan Stanley downgraded Shake Shack’s rating and lowered its price target from $115 to $76, following Wells Fargo’s cut to $60 from $80. These adjustments came just one day after the company trimmed both its second-quarter and full-year outlook, reversing earlier optimism from 17 of 21 analysts who held buy ratings.
2. Share Performance and Options Activity
Shares traded as low as $53.90, marking a new three-year low and contributing to a 32% decline year-to-date. Meanwhile, options traders have favored calls, with a 50-day call/put volume ratio of 2.44 in the 94th percentile, suggesting heightened bullish positioning that could amplify downside if sentiment reverses.
