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DRI

Darden

$104.03

-2.94 (-2.75%)

07:19
10/12/18
10/12
07:19
10/12/18
07:19

Darden's 14% pullback creates attractive risk/reward, says Oppenheimer

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.

DRI Darden
$104.03

-2.94 (-2.75%)

09/21/18
09/21/18
NO CHANGE

Hedgeye sees 25%-30% downside for Darden
Hedgeye analyst Howard Penney updated his Best Idea Short call on Darden and now sees 25%-30% downside for shares, according to contacts.
09/24/18
BMOC
09/24/18
DOWNGRADE
BMOC
Underperform
Darden downgraded to Underperform from Market Perform at BMO Capital
09/24/18
BMOC
09/24/18
DOWNGRADE
BMOC
Underperform
Brinker, Darden, Chuy's Holdings downgraded to Underperform at BMO Capital
As reported earlier, BMO Capital analyst Andrew Strelzik also downgraded Brinker (EAT), Darden (DRI), and Chuy's Holdings (CHUY) to Underperform from Market Perform as part of his broader casual dining sector report and lowered their respective price target to $40 from $43, $96 from $105, and $23 from $28. The analyst cites expected deceleration of industry comps starting in Q4 of this year as a result of wider food-at-home/food-away-from-home gap coming from food commodity deflation. Strelzik says all of the downgraded companies have a tight correlation between comps and commodity prices and sees their EBITDA multiple expansions coming under pressure. The analyst adds that the widening gap will make the recent multiple expansion in the industry unsustainable in spite of recent sequential comps improvement at Brinker, strong brand positioning and value options at Darden, and "attractive" long term growth potential of new unit openings at Chuy's.
09/26/18
STFL
09/26/18
NO CHANGE
STFL
Buy
Stifel recommends adding to Darden, Texas Roadhouse positions amid pullback
Following a "flurry of sell-side downgrades in recent weeks" of casual dining stocks, Stifel analyst Chris O'Cull said he believes the Q4 same-restaurant sales comparisons may not be as difficult as feared and that the strong response to Olive Garden's (DRI) higher-priced promotional entree offerings during August is evidence that consumers are willing to spend more at restaurants. O'Cull would look to add to positions in Darden, Texas Roadhouse (TXRH), and BJ's Restaurants (BJRI) following their recent pullbacks, he tells investors. The analyst keeps Buy ratings on all three stocks mentioned.

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ETFC

E-Trade

$48.89

0.65 (1.35%)

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TEX

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CZR

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ERJ

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BXG

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SM

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AN

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TSLA

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FSFG

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MSFT

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ENT

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NOC

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LYB

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TCCO

Technical Comm Corp

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INFU

InfuSystem

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KALU

Kaiser Aluminum

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ALDR

Alder Biopharmaceuticals

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RF

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HL

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BMY

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TEN

Tenneco

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