Cramer Calls for Panera to $74
Cramer discussed a tale of TWO DIFFERENT Panera Breads (PNRA).
PNRA is not a $46 or $64 stock. He said on July 26 they committed a cardinal sin by revising their range to a broader range for the year by $0.02 higher and lower. He said the same store sales were surprisingly low one month, but he said it was just like Starbucks did. Then they showed the same results that they were supposed to and everyone bought the stock.
He says that Crispani is to Panera what Frappucino is to Starbucks. He says PNRA should never have been there and he thinks PNRA is going to $74 soon. He said CIBC's John Glass was dead right on his call when he said that PNRA's drop back then was the wrong move. Cramer thinks the company goes higher.
PNRA 939 bakery-cafes in 37 states. It reports in 2 weeks and he thinks you should buy half of a position now and half after the earnings report. He thinsk they can have 2,500 to 3,000 stores before reaching any saturation. They went from a lunch place to now what is a lunch and dinner place.
PNRA has a 52-week trading range of $46.25 to $75.88.
Jon C. Ogg
PNRA is not a $46 or $64 stock. He said on July 26 they committed a cardinal sin by revising their range to a broader range for the year by $0.02 higher and lower. He said the same store sales were surprisingly low one month, but he said it was just like Starbucks did. Then they showed the same results that they were supposed to and everyone bought the stock.
He says that Crispani is to Panera what Frappucino is to Starbucks. He says PNRA should never have been there and he thinks PNRA is going to $74 soon. He said CIBC's John Glass was dead right on his call when he said that PNRA's drop back then was the wrong move. Cramer thinks the company goes higher.
PNRA 939 bakery-cafes in 37 states. It reports in 2 weeks and he thinks you should buy half of a position now and half after the earnings report. He thinsk they can have 2,500 to 3,000 stores before reaching any saturation. They went from a lunch place to now what is a lunch and dinner place.
PNRA has a 52-week trading range of $46.25 to $75.88.
Jon C. Ogg
posted by douglas mcintyre at 4:28 AM
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