Oppenheimer Raises Panera Bread 2010 And 2011 Estimates

Panera Bread Company

continues to deliver robust SSS driven by increased marketing spend and media impressions, catering, and new product introductions, Oppenheimer reports. “Management raised 2010 guidance and issued 2011 guidance ahead of our estimates,” Oppenheimer writes. “SSS momentum from 3Q has carried over into 4Q while concerns about wheat prices are muted. As a result, we are raising estimates for 2010 and 2011.” Panera Bread currently trades at $89.52.