Market Overview

UPDATE: Wedbush Securities Upgrades Panera Bread to Outperform on Solid Q4 Checks

Share:
Related PNRA
Barron's Recap: America's Top Financial Advisors
Social Data Shows Something Is 'Definitely Wrong' At Panera
Fast-casual sector starts to measure results of digital push (Seeking Alpha)

Wedbush Securities raised its rating on Panera Bread (NASDAQ: PNRA) from Neutral to Outperform and increased its price target from $160 to $190.

Wedbush Securities noted, "We believe Panera is best positioned within our coverage universe for sustained SSS growth and operating margin leverage in 2013 ahead of expectations. … Our checks of 10% of company units indicate Q4 SSS growth is trending towards the high end of 5-6% guidance, which leads us to increase our estimate to 6% from 5.7%. Commentary pointed to continued strength in catering, solid performance of seasonal menu items, and where applicable, above 10% sales lifts on drivethrough additions."

Panera Bread closed at $166.01 on Tuesday.

Latest Ratings for PNRA

DateFirmActionFromTo
Feb 2015JefferiesMaintainsHold
Feb 2015BarclaysMaintainsOverweight
Jan 2015BarclaysMaintainsOverweight

View More Analyst Ratings for PNRA
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (PNRA)

Around the Web, We're Loving...

Get Benzinga's Newsletters