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Fly News Breaks for June 21, 2018
DRI
Jun 21, 2018 | 13:23 EDT
Stifel analyst Chris O'Cull raised his earnings estimates following Darden's better than expected Q4 report and "favorable" FY19 guidance and continues recommending the shares. The analyst, who raised his price target on Darden to $115, cites three main reasons for his Buy rating: his view that Olive Garden's strong value positioning and off-premise growth will allow it to keep growing same-restaurant sales; his belief that initiatives to improve Cheddar's sales and profit could lead to upside; and the company's increased quarterly dividend.
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