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Fly News Breaks for March 23, 2015
DRI
Mar 23, 2015 | 08:55 EDT
As noted earlier, Telsey Advisory upgraded Darden to Outperform from Market Perform. As reasons for the upgrade, the firm cited the progress the company has made at improving Olive Garden, reducing its expense structure, and pursuing strategies to monetize its real estate holdings. The firm is upbeat on the company's leaseback strategy and expects its EPS to beat expectations over the next year, sustaining its historically high P/E multiple. Target to $77 from $61.
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