BUZZ-Raymond James bullish on Shake Shack, Chipotle, Wingstop on strong growth, innovation

Reuters10-17

** Brokerage Raymond James raises PT on some restaurant chain operators citing strong traffic, brand marketing and menu innovations

** Raises Shake Shack's PT to $130 from $125; expects price hikes and return-to-office dynamics to boost traffic

** Raises Wingstop's PT to $435 from $420; notes sustained market share gains with marketing initiatives along with higher brand awareness, product innovation and channel extensions

** Hikes PT on Chipotle Mexican Grill by $3 to $65

** CMG continues to see strong traffic; believe several tests of new equipment like Autocado robot to yield benefits in the long term - brokerage

** Up to last close, SHAK up about 48% so far this year, WING up ~47% YTD, CMG up ~29% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com;))

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