Analyst Trading Alerts: Panera Bread, St. Jude, Diamond Offshore, Autodesk, Rentrak

Panera Bread Co.(NASDAQ:PNRA): Oppenheimer increased its target on Panera as the firm expects the company’s Q4 comps to come in at the high end of its guidance, and possibly exceed the guidance. The firm continues to identify the company as a top pick and maintains an Outperform rating.

PG & E Corp.(NYSE:PCG): Shares were removed due to automatic time demotion.

Western Refining Inc.(NYSE:WNR): Shares were removed due to automatic time demotion.

St. Jude Medical Inc.(NYSE:STJ): Canaccord said St. Jude’s analyst day provided details into its robust new product pipeline. The firm sees upside to 2012 EPS guidance and modestly accelerating top and bottom line growth in 2013. Shares are Buy rated with a $50 price target.

Diamond Offshore Drilling Inc.(NYSE:DO): Wells Fargo reduced its valuation range on Diamond Offshore after the company provided higher than expected rig operating expense guidance and reported a higher tax rate. The firm reiterates an Outperform rating on the stock.

Autodesk, Inc.(NASDAQ:ADSK): Pacific Crest said Autodesk reseller checks indicate a slight Q4 beat due to the strong January and for Q1 to be at least in line. After conducting checks with resellers, Pacific Crest expects Autodesk to provide in-line or better Q1 guidance and the firm maintains an Outperform rating.

Rentrak Corporation(NASDAQ:RENT): Brean Murray raised its price target on Rentrak ahead of its Q3 results. The firm cited valuation and the recent acceleration of TVEssentials sign-ups. Shares are Buy rated.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com