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Fly News Breaks for October 12, 2018
DRI
Oct 12, 2018 | 07:19 EDT
Oppenheimer analyst Brian Bittner reiterated an Outperform rating and $130 price target after meetings with management. In a research note to investors, Bittner says he believes the recent 14% pullback and conservative FY19 guidance creates an attractive risk/reward with shares trading at 18.5x his FY19 EPS of $5.61. The Cheddar's acquisition has delivered on cost synergies, he says, adding that he expects Darden to become more acquisitive again.
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