In Tuesday’s Analysts’ Actions, TheStreet highlights Google (GOOGL), Shake Shack (SHAK), and Wendy’s (WEN). Deutsche Bank Markets Research raised its price target on Google to $840 from $780. The firm maintained its BUY rating. Analysts said innovation is ‘alive and well’ and the management cares about its stock price. The firm is bullish due to the company’s discounted valuation compared to its peers. This action comes after the tech giant yesterday said that it would rebrand itself as Alphabet, which will become Google’s new parent company. It’s a similar story for Shake Shack. Barclays increased its price target to $44 from $42 Tuesday morning and maintained its EQUAL WEIGHT rating. The burger chain posted strong second quarter earnings Monday, beating analysts’ estimates on both the top and bottom line. Barclays added that the company’s performance continues to impress. Finally, Credit Suisse upgraded Wendy’s stock to NEUTRAL from UNDERPERFORM. Analysts cited improved risk/reward in light of recent share price performance. If the company comes up with a good international growth strategy, analysts could see more upside. TheStreet’s U-Jin Lee reports from New York.
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