Shake Shack IPO is hot but can it match Chipotle?

The IPO market lately has been particularly fruitful for so-called fast-casual chains such as Shake Shack rival Habit Restaurants Inc (HABT.O) and others that hope to replicate the red-hot growth of burrito chain Chipotle Mexican Grill Inc (CMG.N). Preliminary demand on Wednesday prompted Shake Shack to raise its expected IPO price to a range of $17 to $19 per share from between $14 and $16. Shake Shack, which traces its beginnings to a hot dog cart in a public park in New York City, has 63 restaurants, with more than half outside the United States. Customers in Manhattan and Chicago often wait in long lines to get a taste of its rich milkshakes and hormone- and antibiotic-free burgers.

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