UPDATE: Wedbush Downgrades Panera Bread on Softer Checks, Risk of Disappointing Guidance
October 18, 2013 at 12:13 PM EDT
In a report published Friday, Wedbush analyst Nick Setyan downgraded the rating on Panera Bread Co. (NASDAQ: PNRA ) from Outperform to Neutral, and lowered the price target from $190.00 to $165.00. In the report, Wedbush noted, “We are downgrading PNRA to NEUTRAL from OUTPERFORM as we no longer expect
