Shake Shack Inc SHAK has had a tough 2016. The stock has lost more than 11.5 percent since the beginning of the year, experiencing plenty of volatility. Moreover, over the last month alone, the shares have tumbled more than 4 percent. And, it seems like, now, the Vetr crowd believes some room for upside has been unlocked.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
On Thursday, top raters at the Vetr community decided to upgrade their rating on shares of Shake Shak, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
The new rating seems more aligned with the crowd’s target price of $39.67, which implies an upside potential of more than 15 percent from current valuations.
Interestingly, it should be noted that only 68 percent of the crowd’s rating are bullish, meaning that the crowd as a whole is not as bullish as the top raters..
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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