Deutsche Bank Expects Another “Beat and Raise” at Panera (PNRA)

Deutsche Bank Reiterated a Buy on Panera Bread (NASDAQ: PNRA) and raised its price target to $190.00 (from $185.00).

"Our franchisee checks suggest PNRA’s sales trends remained healthy through 3Q. We believe franchisee SSS likely improved sequentially in 3Q vs. 2Q, with a modest increase in the 2-yr trend. Also, our contacts are still seeing no material pushback on menu pricing, while catering remains an area of strength," said analyst Jason West.

"We expect another “beat and raise” in 3Q from PNRA given healthy SSS trends and somewhat conservative margin guidance," added West.

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 $171.41 yesterday.

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