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Upgrade Alert for Panera Bread (PNRA)

By Shiri Gupta

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.

Panera Bread share prices have moved between a 52-week high of $224.15 and a 52-week low of $165.17 and closed yesterday at 17% above that low price at $192.73 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

Panera Bread has overhead space with shares priced $192.73, or 7.5% below the average consensus analyst price target of $208.25. Panera Bread shares should first meet resistance at the 200-day moving average (MA) of $193.79 and find additional resistance at the 50-day MA of $210.47.

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