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Actionable news in PBPB: Potbelly Corporation,

Potbelly’s Valuation Looks Too Full

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Potbelly (PBPB) is lower Friday, following a downgrade from Maxim Group.

Analyst Stephen Anderson cut his rating on the stock to Hold from Buy, as the stock was approaching his $13 price target. He writes that he expects the company to beat earnings expectations again this quarter, by a penny, but he expects negative comps to remain an issue.

He also thinks that Potbelly is unlikely to revise its guidance upward for the full year, and he also...