Panera Bread "outperform"

06/04/07 - Robert W. Baird

NEW YORK, June 4 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Panera Bread Company (PNRA). The target price is set to $74.

In a research note published this morning, the analysts mention that the company’s comps are likely to have reached 3.5%-4.5% in May. Target has indicated healthy comps for the period. This, along with the comments of franchisee contacts, indicates an improvement in trends in May, the analysts say. Panera Bread is expected to report healthy results for forthcoming periods, Robert W Baird adds.