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Fly News Breaks for June 22, 2018
DRI
Jun 22, 2018 | 09:48 EDT
SunTrust analyst Jake Bartlett raised his price target on Darden to $117 and kept his Buy rating after its better than expected Q4 earnings, saying the results should ease concerns that the company's dominant position is on the decline. Bartlett states that Darden's Olive Garden and LongHorn concepts can sustain their outperformance relative to the casual dining peers while also benefiting from improving restaurant demand. The analyst adds that there is room for upside in the company's initial FY19 outlook as comps growth appears to remain solid.
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