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Fly News Breaks for January 11, 2019
DRI
Jan 11, 2019 | 06:48 EDT
BofA/Merrill analyst Gregory Francfort upgraded Daren to Buy and raised its price target to $120 from $113 saying the company is well positioned to continue to leverage its size and brand strength. Francfort believes Darden's data analytics and customer insights positions the company for an industry shift towards scale going forward. Darden has fared better with margin pressure than peers due to G&A leverage, operating efficiencies at the store level, and by avoiding incremental order delivery cost pressures, the analyst wrote in a note to investors.