Shake Shack Seen Delivering Solid Growth Through 2027, Oppenheimer Says

11:53 AM EDT, 10/26/2026 (MT Newswires) -- Shake Shack (SHAK) is well positioned to meet consensus estimates through 2027, supported by its established growth strategy and expense discipline, Oppenheimer said Monday in a report. Oppenheimer expects Q3 same-store sales growth of 1.5%, matching the consensus estimate. It also expects Shake Shack to maintain its 2026 guidance for low-single-digit same-store sales growth and EBITDA at the lower end of its $225 million to $235 million range. Consensus forecasts for 2.3% same-store sales growth in 2027 represent an attainable base-case scenario, the report said. A key investor debate ahead of Q3 centers on whether the company can sustain same-store sales growth and achieve 2027 EBITDA expectations, Oppenheimer said. Oppenheimer said the company could update its long-term EBITDA growth outlook at an industry conference in January, compared with Wall Street expectations for 16% growth from 2027 through 2029. Oppenheimer said risk to consensus estimates through 2027 is unusually low, while limited exposure to lower-income consumers provides a buffer against macroeconomic concerns affecting the industry. Q3 results are due Nov. 5. Oppenheimer maintained its outperform rating on Shake Shack stock with a price target of $82. Price: 64.65, Change: -0.51, Percent Change: -0.78