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Fly News Breaks for June 28, 2016
DRI
Jun 28, 2016 | 07:32 EDT
Oppenheimer analyst Brian Bittner says Darden was forced to operate under the "weakest" industry trend in two years during Q4 but he still expects same-store sales to remain "above the industry." The analyst notes that industry sales sluggishness causes him to approach the company with caution into 2017 relative to his more bullish stance over the past 18 months. Nonetheless, Bittner sees limited risk to 2017 estimates and reiterates an Outperform rating and $70 price target on the shares. The company is expected to report quarterly results on June 30.
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