The firm said the company is improving sales capacity and recent investments should pay off.
Bank of America/Merrill Lynch set a $185 price target.
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Separately, TheStreet Ratings team rates PANERA BREAD CO as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PANERA BREAD CO (PNRA) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."
- You can view the full analysis from the report here: PNRA Ratings Report