New York, Jan 6, 2026, 13:52 EST — Regular session
- Shake Shack shares rose about 8% after Deutsche Bank upgraded the stock to “buy”
- The bank set a $105 price target as investors look for early-2026 catalysts
- Traders are eyeing next week’s ICR conference appearance for fresh signals on growth
Shake Shack Inc shares jumped about 8% on Tuesday after Deutsche Bank upgraded the burger chain’s stock to “buy,” sending the shares back above $90 in regular trading. The stock was last up $6.65 at $90.16, after touching an intraday high of $91.04. 1
The call matters because Wall Street is looking for signposts early in 2026 on whether restaurant demand is holding up as costs stay high. A single high-profile upgrade can move a consumer stock quickly, especially when investors start the year reassessing positioning.
Deutsche’s note also lands ahead of a stretch of investor conferences that often set the tone for the first half. Those events can sharpen expectations on unit growth, pricing and traffic — the customer counts that drive restaurant sales.
Deutsche Bank analyst Lauren Silberman pointed to a “compelling catalyst path” in the first half of 2026 and a “near trough valuation,” even as the firm trimmed its price target to $105 from $115. Silberman also said she was constructive on food distributors Sysco, US Foods and Performance Food Group, framing the upgrade as part of a broader view on the group. 2
Shake Shack is due to meet investors at the 28th Annual ICR Conference in Orlando, Florida, where it will take part in a “fireside chat” — an on-stage interview — starting at 8:30 a.m. ET on Jan. 12, the company said. Shake Shack said it had more than 655 locations system-wide, including over 420 in the United States and more than 235 internationally. 3
Deutsche’s $105 price target — an analyst’s estimate of where the stock could trade over the next year — implies roughly mid-teens upside from current levels. Investors will be looking for evidence that the growth story can deliver on that view, particularly around openings and restaurant profitability.
But the rally leaves less room for disappointment if management strikes a cautious tone on demand or costs. Any pushback on margins from labor or food inflation, or a softer read on traffic, could pressure the shares.
