Fly News Breaks for December 1, 2016
DRI
Dec 1, 2016 | 06:45 EDT
As previously reported, Guggenheim upgraded Darden to Buy from Neutral with an $88 price target. Analyst Matthew DeFrisco has increased confidence in sustained top and bottom line outperformance and notes Olive Garden same-store-sales have remained meaningfully positive over the last 4 months, outpacing the casual dining sector by 350bps. The analyst said Olive Garden remodel and bar refresh initiatives are prudent and shorter in nature compared to peers, and Delivery represents the next phase of off-premise sales.
News For DRI From the Last 2 Days