BUZZ -Shake Shack slide after BTIG downgrades to 'neutral'
Shares of fast food chain operator Shake Shack SHAK.N fall as much as 5.2% to $123.04
BTIG downgrades stock to "neutral" from "buy" after SHAK breaches PT of $125
Says shares are currently trading within striking distance of an all-time high, believes further upside is unlikely in near term
Brokerage "less confident" that guest frequency will accelerate in current environment
Believes co has plenty of profit expansion opportunities, and should reinvest in pricing, and in promotions such as its celebration of National Hamburger Month in May and offering a different free burger every week throughout the month for digital purchases over $10
Average rating of 25 brokerages is "buy"; median PT is $111- data compiled by LSEG
Up to last close, SHAK has fallen 3% YTD
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