Wedbush Maintains Neutral on Panera Bread Company

Wedbush is out with its report today on Panera Bread Company

, maintaining Neutral. In its report, Wedbush writes, "Maintain NEUTRAL and $116 price target. Our PT is based on a 22x multiple on our 2012 EPS expectation. This multiple is at a 25% discount to its growth peers to account for lower organic growth expectations." At the time of posting, shares of PNRA were trading at $107.17, up 3.07% from Friday's close.