- Panera Bread (PNRA +7.8%) is riding higher as investors focus on the potential of the cafe-bakery conversions over the Q2 earnings miss.
- An early look at Q3 comps (+4.7% at company-owned stores) is also influencing sentiment.
- CEO Ronald Shaich summarized Panera's outlook this way: "In our history, sales have led and profits have followed."
- Also in the mix: Piper Jaffray saw enough out of Panera to fire off a two-notch upgrade to Overweight from Underweight. Shares are given a price target of $208.
- Panera earnings call transcript
- Previously: Panera Bread misses by $0.02, misses on revenue (Jul. 28 2015)
- Previously: Panera Bread reports mixed results amid 2.0 conversion (Jul. 28 2015)