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Upgrade Alert for Panera Bread (PNRA)

By Amy Schwartz

Panera Bread (NASDAQ:PNRA) was upgraded from Neutral to Buy at Longbow today. The stock closed yesterday at $192.73 on volume of 693,000 shares, above average daily volume of 484,000.

There is potential upside of 8.1% for shares of Panera Bread based on a current price of $192.73 and an average consensus analyst price target of $208.25. The stock should run into initial resistance at its 200-day moving average (MA) of $193.79 and subsequent resistance at its 50-day MA of $210.47.

In the past 52 weeks, Panera Bread share prices have been bracketed by a low of $165.17 and a high of $224.15 and closed yesterday at $192.73, 17% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

Panera Bread Company owns and franchises bakery cafes. The Company's bakeries operate under the Panera Bread and Saint Louis Bread Co. names. Panera operates throughout the United States and offers free broadband Wi-Fi network.

SmarTrend recommended that its subscribers protect gains by selling shares of Panera Bread on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $209.05. Since that call, shares of Panera Bread have fallen 9.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades panera bread

Ticker(s): PNRA