UPDATE: Goldman Sachs Upgrades Panera Bread (PNRA) to Neutral

Goldman Sachs upgraded Panera Bread (NASDAQ: PNRA) from Sell to Neutral with a price target of $172.00 (from $158.00). Analyst Karen Holthouse is more positive on the company's near-term comp outlook.

"While we still have longer-term concerns regarding competitive intrusion and the rollout of PNRA 2.0, we are incrementally more positive on the near-term comp outlook following analysis of PNRA’s recently launched national advertising campaign. We increase our 2Q/3Q comp estimates by an average of 1ppt and our 2015-2017 EPS estimates by 3%-4%, which raises our 12-month price target to $172 from $158," said Holthouse.

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 $174.73 yesterday.

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