Shake Shack (SHAK) is “100% Tied to the Beef Future,” Says Jim Cramer

We recently published 8 Stocks on Jim Cramer’s Radar.  Shake Shack Inc. (NYSE:SHAK) is one of the stocks on Jim Cramer’s radars.

Shake Shack Inc. (NYSE:SHAK) is a fast food restaurant firm. It has been at the center of analyst attention over the past couple of months, with the latest coverage coming from JPMorgan on December 18th. The bank upgraded Shake Shack Inc. (NYSE:SHAK)’s rating to Neutral from Underweight as it cut the firm’s share price target to $90 from $95. The bank pointed out that the firm is transforming itself into a quick-service restaurant company while remaining cash flow positive. JPMorgan’s comments came after Raymond James had maintained a Strong Buy rating and a $150 share price target for Shake Shack Inc. (NYSE:SHAK)’s shares on November 25th after the restaurant firm’s CFO announced her resignation. In his previous comments about the company, Cramer has praised its CEO but added that beef prices continue to be a sore point. His thoughts in this appearance reiterated the sentiment:

Jim Cramer Was Left Impressed By Shake Shack (SHAK)

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“Look, SHAK is very interesting. The problem with SHAK, was the stock was going straight down, the analysts had it dead right, said sell. It was much more of a victory call. I happen to think Rob Lynch is doing great but this company, is 100% tied to the beef future.”

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Disclosure: None. This article is originally published at Insider Monkey.