No. of Recommendations: 0
I already have a half position in PNRA and with the recent drop I have been thinking of adding more. I like their brand, management and company philosophy. (Food isn't bad either.)

Based on a projected growth rate of 20% and a PE of 30 I see a 3 year price target of $230 a share which is double today's current share price. This is assuming they can keep margins under control and grow same store sales. I like their focus on expanding their product line, especially in the high margin frozen drink area. Having said that I don't think I would add any at a higher price than $114 and lower would be better.

--louis
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