Goldman upgrades Shake Shack to buy, says chain is one of the last reopening plays

An order of fast food meal (hamburger, chips and soft drink) at a Shake Shack restaurant at Sanitun on August 13, 2020 in Beijing, China.
VCG | Visual China Group | Getty Images

Investors should jump in after the recent decline for Shake Shack because the company still has plenty of room for a post-Covid rebound, according to Goldman Sachs.

Analyst Jared Garber upgraded the stock to buy from neutral, saying that the recent pullback for shares made the price more attractive and that the chain's primarily urban store base has delayed its reopening recovery.