UPDATE: DA Davidson Terminates Coverage on Panera Bread

DA Davidson says it is dropping its Buy rating on Panera Bread

due to the departure of the analyst that covered the company. DA Davidson notes, "Due to the departure of our analyst we are dropping coverage of PNRA shares effective immediately. All estimates, target prices and rating (Buy) published by D.A. Davidson & Co. on April 25, 2012 are now being vacated." PNRA closed at $157.42 on Monday.