Wedbush Starts Panera Bread (PNRA) at Neutral; Reasonable Expectations Reflected in Valuation

Wedbush initiates coverage on Panera Bread (NASDAQ: PNRA) with a Neutral. PT $116.00.

Wedbush analyst says, "Believe our current 15% organic EPS growth estimate, combined with the company’s ability to enhance earnings growth through acquisitions and share buybacks, renders valuation reasonable. Therefore, we initiate with a NEUTRAL rating."

"Organic unit growth unlikely to reach double-digits going forward. While we
believe that the lack of new retail development is the primary obstacle, we also
believe that Panera’s system unit count is approaching maturity. Organic company unit growth was >20% prior to 2008, and has not been above 7% since."

For more ratings news on Panera Bread click here and for the rating history of Panera Bread click here.

Shares of Panera Bread closed at $115.77 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Diana Shipping withdraws bid to acquire Genco Shipping
• Movano (MOVE) Misses Q2 EPS by 195c