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BofA/Merrill Lynch Analyst 'Impressed' after Panera 2.0 Tour (PNRA)

September 17, 2014 7:08 AM EDT
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Price: $314.93 --0%

Rating Summary:
    12 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 8 | New: 10
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BofA/Merrill Lynch analyst Joseph Buckley reiterated a Buy rating, 'Top Pick' and $185 price target on Panera Bread (NASDAQ: PNRA) after touring two recently converted Panera 2.0 cafes.

Buckley notes the 2.0 program is focused on meeting different customer needs for eat-in and take-out dining experiences, including the use of in-store ordering kiosks and mobile phone ordering and payment.

Buckley commented, "The system was in only 27 cafes as of the July conference call. The team seemed confident that roughly 100 cafes will be on the program by calendar year-end.Several teams will be working on multiple market rollouts through the balance of the year. We were impressed with the thoroughness and thoughtfulness of the rollout process."

For an analyst ratings summary and ratings history on Panera Bread click here. For more ratings news on Panera Bread click here.

Shares of Panera Bread closed at $155.65 yesterday.



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