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Shake Shack stock price
Shake Shack latest news:
McDonald's price target revised down at SunTrust
SunTrust Robinson Humphrey revised McDonald's Corp.'s price target down to $187, reversing an earlier note that moved the price target to $205 from $178. "[W]e overestimated the impact of tax reform on McDonald's tax rate, by mistakenly holding the foreign tax rate steady," SunTrust analysts say in the revision. "We now estimate the foreign tax differential to be +3.3% vs. -4.5% prior, which increases our '18/'19 tax rate estimate to 26.1% vs. 18.3% prior, down from 32.6% in '17." Other price target moves in the earlier note include Wendy's Co. to $22 from $17, Shake Shack Inc. to $60 from $50, and Chipotle Mexican Grill Inc. to $363 from $355. McDonald's shares are up 44% for the last year while the Dow Jones Industrial Average is up nearly 25% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.