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Fly News Breaks for March 21, 2019
BLMN, DRI
Mar 21, 2019 | 14:54 EDT
Gordon Haskett analyst Jeff Farmer upgraded Darden (DRI) to Hold from Underperform, noting that the company and Bloomin' Brands (BLMN) are the only two casual dining companies over the last two quarters that have been able to convert same-store sales upside into upward revisions to consensus estimates for both earnings and margins, which is a dynamic he expects to continue into FY20. Farmer raised his FY19 and FY20 EPS estimates for Darden following the company's earnings report and increased his price target on the stock to $111 from $97.
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