Shake Shack shares rose 20% in October according to S&P Global Market Intelligence, amid a broader rotation into restaurant stocks as investors sold AI stocks. The gain was supported by plans to enter Brazil through a licensing partnership, several positive analyst notes, including Morgan Stanley raising its price target from $74 to $79 and UBS lifting its target from $68 to $73, and a late-month jump tied to Nelson Peltz's buyout proposal for Wendy's. Shake Shack will report third-quarter earnings on Thursday, with analysts expecting revenue to grow 16% to $426.3 million and adjusted EPS to fall from $0.36 to $0.34. Investors will watch same-store sales growth and margins, as the company has struggled to turn revenue growth into profit growth.
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