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Stock Market & Financial Investment News

News Breaks
August 5, 2014
10:34 EDTPNRAPanera slides following CFO resignation
Shares of fast casual restaurant operator Panera Bread (PNRA) are falling after the company announced that CFO Roger Mathews is resigning from his position. WHAT'S NEW: Panera Bread announced last night that Roger Matthews, executive vice president and CFO, resigned his position to pursue other opportunities. Effective August 6, Bill Moreton, the executive vice chairman of the company, will serve as Interim CFO as the company conducts a search for a full-time replacement. Moreton has previously held the positions of CEO, Co-CEO and CFO of Panera Bread. ANALYST OPINION: Commenting on the announcement, Oppenheimer analyst Brian Bittner said that while unforeseen management changes are never ideal for shareholders, he feels that this news is not worrisome. He said that shareholders should not perceive this announcement as a sign of declining financials or a new directional strategy. Bittner believes that long-term investors should think about purchasing Panera at current levels. The firm maintains an Outperform rating on the shares. Likewise, Bernstein analyst Sara Senatore said that Moreton has shown that he is a competent executive both in terms of operations and communications. The firm kept an Outperform rating on the stock. PRICE ACTION: During morning trading, shares of Panera were down $1.23, or 0.8%, to $149.80.
News For PNRA From The Last 14 Days
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August 19, 2015
10:00 EDTPNRAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
08:46 EDTPNRAPanera Bread remains our top restaurant pick, says Cowen
Cowen said Panera Bread remains their top restaurant pick after meeting with management. They noted management was bullish given encouraging Q2 results and are trying to balance attention and resources for 2.0 conversions while protecting profitability. Cowen reiterated its Outperform rating and $245 price target on Panera Bread shares.
August 18, 2015
18:52 EDTPNRAPanera Bread initiated with a Hold at Maxim
Target $220.
07:59 EDTPNRAPanera Bread removed from US 1 List at BofA/Merrill
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August 17, 2015
06:47 EDTPNRAPanera Bread price target raised to $225 from $208 at Piper Jaffray
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