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Fly News Breaks for January 27, 2016
PNRA
Jan 27, 2016 | 06:45 EDT
BTIG analyst Peter Saleh upgraded Panera Bread to Buy with a $215 price target on shares. The analyst believes Panera's key technology investment, Panera 2.0, is starting to drive meaningful sales growth and expects higher digital sales mix from Panera 2.0 to improve order accuracy, customization, and customer satisfaction. Saleh said 2016 guidance could be disappointing but expects accelerated pace of conversions to driver stronger 2017 results, and for the company to see some benefit from Chipotle's issues.
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