Investors likely to focus on negative parts of Panera results, says Wells Fargo After Panera reported higher than expected Q4 EPS and its Q4 SSS also beat expectations, Wells Fargo expects most investors to focus on the company's Q1-to-date SSS decline of 2.2% and its lower than expected 2014 EPS guidance. Nonetheless the firm expects the company to benefit from several of its ongoing initiatives this year, and it expects the company to return to transaction growth. It keeps an Outperform rating on the shares.
Panera Bread downgraded to Hold on valuation at Wunderlich Wunderlich downgraded Panera Bread to Hold from Buy with shares within 8% of its unchanged price target of $185. The firm still expects Panera's same-store sales to continue to improve thru 2015 and 2016.
Hain Pure Protein extends relationship with Panera Bread The Hain Celestial Group (HAIN) announced that Hain Pure Protein has entered into a new supply agreement with Panera (PNRA) to provide Plainville Farms turkey breast meat raised without antibiotics to Panera Bread. HPPC has been supplying Panera Bread with turkey raised without antibiotics on family farms since 2011.