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Fly News Breaks for June 22, 2018
DRI
Jun 22, 2018 | 06:55 EDT
JPMorgan analyst John Ivankoe views yesterday's 15% post-earnings share rally in Darden Restaurants as overdone. He recommends investors "lighten positions into this strength." The analyst believes Darden's "superior execution and continued value focus" will allow industry fundamental outperformance but that the stock is currently "achieving its near-term highs." Ivankoe raised his price target for Darden shares to $106 from $95 and keeps a Neutral rating on the name.
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