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UPDATE: Wedbush Downgrades Panera Bread on Softer Checks, Risk of Disappointing Guidance

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In a report published Friday, Wedbush analyst Nick Setyan downgraded the rating on Panera Bread Co. (NASDAQ: PNRA) from Outperform to Neutral, and lowered the price target from $190.00 to $165.00.

In the report, Wedbush noted, “We are downgrading PNRA to NEUTRAL from OUTPERFORM as we no longer expect upward estimate revisions based on our most recent round of checks that indicate a softer end to Q3, and Q4 QTD SSS growth below expectations.”

Panera Bread Co. closed on Thursday at $160.58.

Posted-In: Nick Setyan WedbushAnalyst Color Downgrades Analyst Ratings

 

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