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DRI

Darden

$99.31

0.79 (0.80%)

07:05
01/08/18
01/08
07:05
01/08/18
07:05

Darden see Tax Act reducing FY18 tax rate by 600 bps

Additionally, and excluding the deferred tax revaluation benefit mentioned above, the Company estimates that the impact of the lower corporate tax rates under the Tax Act will reduce its fiscal 2018 effective tax rate by 600 basis points. Separately, the Company announced that the anticipated resolution of other tax matters, unrelated to the Tax Act, will reduce its effective tax rate by an additional 100 basis points, resulting in an effective tax rate of approximately 18% for fiscal 2018. The actual impacts of the Tax Act on fiscal 2018 financial results may differ from these estimates due to many factors, including changes in interpretations of the Tax Act, the accuracy of the Company's assumptions and additional actions it may take as a result of the Tax Act. "One of the best investments we can make is in our people," said CEO Gene Lee. "During the remainder of fiscal 2018, we will invest approximately $20 million in initiatives directly benefitting our workforce. This investment will strengthen one of our most important competitive advantages - a results-oriented culture - as we continue to improve on the guest experience, and position Darden and our brands for long-term success."

  • 08

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  • 08

    Jan

DRI Darden
$99.31

0.79 (0.80%)

12/21/17
ARGS
12/21/17
UPGRADE
ARGS
Buy
Darden upgraded to Buy from Hold at Argus
12/21/17
12/21/17
UPGRADE
Target $108

Buy
Darden upgraded to Buy after 'strong' quarter at Argus
As previously reported, Argus analyst John Staszak upgraded Darden to Buy from Hold after the company's "strong" Q2 report, contending that the company can transfer the initiatives to price aggressively, lower costs and increase customer traffic at Olive Garden to also improve results at its specialty brands. The analyst, who said he views management's guidance as conservative and raised his own Darden estimates, set a $108 price target on the stock.
12/21/17
12/21/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Darden (DRI) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's "strong" second quarter report, contending that the company can transfer the initiatives to price aggressively, lower costs and increase customer traffic at Olive Garden to also improve results at its specialty brands. 2. Exxon Mobil (XOM) was upgraded to Focus List from Outperform and Royal Dutch Shell (RDS.A) was upgraded to Outperform at Scotia Howard Weil. 3. JPMorgan (JPM) and Wells Fargo (WFC) were upgraded to Buy from Neutral at Buckingham. 4. Community Bank System (CBU) upgraded to Hold from Sell at Sandler O'Neill. 5. Spirit Airlines (SAVE) upgraded to Buy from Hold at Deutsche Bank with analyst Michael Linenberg saying he believes Airline underperformers in 2017 could see the most upside in 2018 as their prospects improve. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/03/18
RHCO
01/03/18
NO CHANGE
Target $205
RHCO
Buy
McDonald's price target raised to $205 from $178 at SunTrust
SunTrust analyst Jake Bartlett raised his price target on McDonald's to $205 and keeps his Buy rating as part of his "Buy the Tax News" research note on Restaurants. Bartlett says tax reform will be a "windfall for restaurants", boosting their top-line on increased consumer spending and bottom-line through tax expense reduction. The analyst anticipates about 50-100bps improvement in comps, along with a shift away from the deep-value promotional environment of the past few years. Bartlett also raises his price target on Cracker Barrel (CBRL) to $163 from $140, Chipotle (CMG) to $363 from $355, Darden (DRI) to $109 from $95, and Wingstop (WING) to $50 from $40.

TODAY'S FREE FLY STORIES

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POST

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PRAH

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WYN

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$107.98

-0.58 (-0.53%)

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ABMD

Abiomed

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PCG

PG&E

$44.67

0.84 (1.92%)

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FARM

Farmer Bros.

$28.50

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NDLS

Noodles & Company

$8.90

-0.35 (-3.78%)

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WIN

Windstream

$1.22

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NDLS

Noodles & Company

$8.90

-0.35 (-3.78%)

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EPD

Enterprise Products

$27.87

-0.12 (-0.43%)

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INO

Inovio

$4.89

0.06 (1.24%)

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RCII

Rent-A-Center

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AKER

Akers Biosciences

$0.59

0.0086 (1.48%)

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DHCP

Ditech

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GPS

Gap

$28.15

-4.82 (-14.62%)

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IEP

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FCAU

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DGX

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UNH

UnitedHealth

$244.96

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ROST

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ADSK

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AAL

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LUV

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DAL

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VTL

Vital Therapies

$5.65

-0.475 (-7.76%)

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VTL

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$5.65

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LNC

Lincoln National

$68.89

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DGLY

Digital Ally

$2.63

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SNGX

Soligenix

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HF

HFF Inc.

$35.34

0.08 (0.23%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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