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Panera Bread (NASDAQ:PNRA) was upgraded by equities researchers at Bank of America to a “buy” rating in a research report issued on Wednesday, AmericanBankingNews.com reports.

Shares of Panera Bread (NASDAQ:PNRA) traded up 1.07% on Wednesday, hitting $157.32. The stock had a trading volume of 399,650 shares. Panera Bread has a one year low of $149.60 and a one year high of $194.77. The stock’s 50-day moving average is $170.8 and its 200-day moving average is $172.6. The company has a market cap of $4.290 billion and a P/E ratio of 23.14.

Panera Bread (NASDAQ:PNRA) last released its earnings data on Tuesday, April 29th. The company reported $1.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.52 by $0.03. The company had revenue of $605.30 million for the quarter, compared to the consensus estimate of $598.07 million. During the same quarter in the prior year, the company posted $1.64 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts expect that Panera Bread will post $6.87 EPS for the current fiscal year.

A number of other firms have also recently commented on PNRA. Analysts at Paradigm Capital cut their price target on shares of Panera Bread from $2.25 to $1.70 in a research note on Tuesday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Panera Bread in a research note on Thursday, May 1st. They now have a $165.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Panera Bread in a research note on Thursday, May 1st. They now have a $161.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $170.79.

Panera Bread Company (NASDAQ:PNRA) s a national bakery-cafe concept with 1,541 Company-owned and franchise-operated bakery-cafe locations in42 states, the District of Columbia, and Ontario, Canada.

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