BTIG upgrades Shake Shack despite sales miss, says fundamentals will improve from here

Published Fri, Nov 5 20217:05 AM EDTUpdated Fri, Nov 5 202111:09 AM EDT

Jesse Pound @/in/jesse-pound @jesserpound

A person wears a face mask outside Shake Shack Innovation Kitchen in Greenwich Village as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 27, 2020 in New York City.

Noam Galai | Getty Images

A weak third quarter for Shake Shack could prove to be a turning point for the company, according to investor firm BTIG.

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