Panera Bread Stock Rating Reaffirmed by Wunderlich (PNRA)

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Panera Bread (NASDAQ:PNRA)‘s stock had its “hold” rating reaffirmed by stock analysts at Wunderlich in a report issued on Thursday. They currently have a $170.00 price target on the stock, down from their previous price target of $180.00. Wunderlich’s target price points to a potential upside of 12.29% from the stock’s previous close.

The analysts wrote, “Panera Bread (PNRA) appears in full roll-out mode of its 2.0 service initiative designed to serve evolving consumer dining needs aided by technology. “Our recent channel checks indicate roll out of 2.0, including Rapid Pickup (RPU), Order to Your Table, and Large and Small Order Delivery, is accelerating with RPU in most all co-cafes by June 30 and franchise cafes before year-end. However, our checks indicate only modest SSS lift in Q2 to date, though expected to build as promo support is added. “While we project co-SSS to improve through Q4, management has cautioned that its investment in people and systems ‘may depress margins and earnings in 2014/2015.’ Pending more stabilized trends and factoring a 22x P/E to our 2015 EPS, we are lowering our PT to $170 from $180.”

Panera Bread (NASDAQ:PNRA) opened at 151.40 on Thursday. Panera Bread has a one year low of $149.60 and a one year high of $193.18. The stock’s 50-day moving average is $156.0 and its 200-day moving average is $170.. The company has a market cap of $4.128 billion and a P/E ratio of 22.39.

Panera Bread (NASDAQ:PNRA) last released its earnings data on Tuesday, April 29th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. The company had revenue of $605.30 million for the quarter, compared to the consensus estimate of $598.07 million. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts predict that Panera Bread will post $6.87 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on PNRA. Analysts at Citigroup Inc. upgraded shares of Panera Bread from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. They now have a $185.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Bank of America upgraded shares of Panera Bread to a “buy” rating in a research note on Wednesday, May 7th. Finally, analysts at Paradigm Capital cut their price target on shares of Panera Bread from $2.25 to $1.70 in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $167.19.

Panera Bread Company (NASDAQ:PNRA) s a national bakery-cafe concept with 1,541 Company-owned and franchise-operated bakery-cafe locations in42 states, the District of Columbia, and Ontario, Canada.

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