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Fly News Breaks for March 22, 2019
DRI
Mar 22, 2019 | 09:09 EDT
Loop Capital analyst Lynne Collier raised her price target on Darden to $140 and kept her Buy rating after its "solid" Q3 earnings and increased guidance. The analyst cites the company's better than expected margins and comps of 2.8% that came in spite of its reduced incentives and promotions across the portfolio. Collier adds that while still negative, the same-store sales of Darden's Cheddar's concept have also improved sequentially. The analyst continues to view the company as one of her "favorite ideas" thanks to its "best-in-class management, continued market share gains, economies of scale and an attractive return of cash to shareholders."
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