Piper Jaffray lifts its price target on Overweight-rated Shake Shack (NYSE:SHAK) to $62 from $44.
Analyst Nicole Miller points to the "upbeat" outlook issued yesterday by Shake Shack management.
The new Piper PT reps 31% upside potential for the restaurant stock.
Shares of Shake Shack are up 7.78% premarket to $51.10.
Previously: Shake Shack beats by $0.06, beats on revenue (May 3)
Previously: Shake Shack posts surprise positive comp (May 3)
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