Panera Bread tests support after guidance update, levels to watch Shares are down over 5% at time of writing to $176.41 following the company's guidance update last night after market close. At current price the shares are below the 50-day moving average, last at $177.59. This is bearish for price on an intermediate-term basis. Next support below is at $173.56 and then at $169.82. Resistance is at the 50-day and then at $180.83.
News For PNRA From The Last 14 Days
Check below for free stories on PNRA the last two weeks.
Panera Bread not receiving credit for top-line growth, says UBS UBS believes Panera Bread is under pressure due to a lack of visibility in 2015 but feels it is not receiving enough credit for its top-line revenue growth. The firm feels a significant lift is coming in 2015 comps and a rollout of 2.0. Shares of Panera Bread remain Buy rated but price target lowered to $180 from $200 per share.
Panera Bread upgraded to Overweight from Equal Weight at Barclays Barclays upgraded Panera Bread to Overweight citing low near-term expectations and its belief the company's investments will drive long-term growth. Barclays sees a favorable risk/reward at current shares levels and raised its price target for Panera to $175 from $165.