UPDATE: Bank of America Lowers PT on Potbelly Due To Weather

In a report published Wednesday, Bank of America analyst Joseph Buckley lowered the price objective and maintained neutral on Potbelly (NASDAQ: PBPB). In spite of good 4Q13 results, guidance was lower than expected. Thus, Bank of America expected lower EPS for FY14 and FY15.

In the report, Bank of America noted "We are lowering our adjusted EPS estimates from $0.37 to $0.34 for 2014 and from $0.47 to $0.44 for 2015. Our lower earnings expectations are concentrated in 1Q with projected 1Q same store sales of down 2% as opposed to plus 3% previously."

On Tuesday, Potbelly closed at $22.40