Goldman Sachs Upgrades Panera Bread (PNRA) to Conviction Buy, Sees Catalysts

April 4, 2013 7:05 AM EDT
Get Alerts PNRA Hot Sheet
Price: $216.06 --0%

Rating Summary:
    21 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
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Goldman Sachs upgraded Panera Bread (NASDAQ: PNRA) from Neutral to Conviction Buy with a price target of $215.00 (from $185.00).

"PNRA has a strong unit growth trajectory, SSS are solidly in the mid-single digits, margins are ramping, and FCF deployment is increasingly robust," said analyst Michael Kelter. "A spring traffic inflection driven by easier compares, a new ad campaign, and new products may serve as a catalyst after a period of underperformance."

For an analyst ratings summary and ratings history on Panera Bread (NASDAQ: PNRA) click here. For more ratings news on Panera Bread click here.

Shares of Panera Bread closed at $169.50 yesterday.

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