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Fly News Breaks for July 26, 2016
PNRA
Jul 26, 2016 | 07:49 EDT
Stifel analyst Paul Westra downgraded Panera based on the firm's belief that the U.S. economy will probably enter a recession within nine months. As a result, the firm now expects two year industrywide comps to come in at 0.5% in the first half of 2018, versus the consensus outlook of 1.75%, Westra stated. The analyst believes that the company has already reached peak returns, due to saturation and competitive issues. Target $175.
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