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Fly News Breaks for May 19, 2015
PNRA
May 19, 2015 | 07:27 EDT
Cowen upgraded Panera Bread to Outperform and increased its price target to $210 from $172. The firm continues to be bullish on comp and sales improvement and has greater confidence in cost controls around Panera 2.0. Cowen sees downside protection due to Panera's financial flexibility to add to debt and share repurchases and expects 2017 to get the full benefit of 2.0 sales.
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