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Fly News Breaks for June 7, 2018
DRI
Jun 7, 2018 | 07:20 EDT
SunTrust analyst Jake Bartlett upgraded Darden Restaurants to Buy from Hold and raised his price target for shares to $110 from $104, citing his view that its multiple will expand with modest comp sales outperformance beyond fiscal 2018, accelerating unit growth, resumed acquisitions and a higher dividend. In a research note to investors, Bartlett said the issues pressuring Q4 results are "largely transitory," creating a buying opportunity following share price underperformance year-to-date. While he does see risk to Q4 SSS estimates, he believes this is priced in, but the improving long-term story is not.
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