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DRI

Darden

$116.11

7.485 (6.89%)

06:50
03/22/19
03/22
06:50
03/22/19
06:50

Darden price target raised to $134 from $119 at BTIG

BTIG analyst Peter Saleh raised his price target on Darden to $134 and kept his Buy rating, calling the company a "casual dining outlier" with expanding margin in the most recent quarter in spite of the labor cost headwinds. The analyst notes Darden's same-store sales gains, but notes that he is particularly impressed with its "restaurant-level margin expansion that is materially outpacing the peer group", adding that the top-line and margin growth are indicative of the company being "increasingly unique" in casual dining category.

DRI Darden
$116.11

7.485 (6.89%)

03/19/19
MAXM
03/19/19
NO CHANGE
Target $128
MAXM
Buy
Darden price target raised to $128 from $122 at Maxim
Maxim analyst Stephen Anderson raised his price target on Darden to $128 and kept his Buy rating ahead of its Q3 results this Thursday. The analyst forecasts 3.5% blended comps growth, which is up from his prior call of up 2.6%, based on his expectations of strong results at Olive Garden and Long Hold. Anderson also raises his FY20 EPS view by 15c and FY21 view by 10c to $6.73 and $7.17 respectively, stating that Darden's Cheddar's concept is also positioned to turn around "from improved throughput and the addition of online/mobile transactions."
03/21/19
SPHN
03/21/19
NO CHANGE
Target $125
SPHN
Overweight
Darden shares likely to be rewarded for guidance hike, says Stephens
Stephens analyst Will Slabaugh offered his first reaction to Darden's Q3 results, noting that this was the 17th consecutive quarter that the company has met or beat EPS estimates. He believes Olive Garden's same-store sales growth on a 2-year stack basis was better than most expected and thinks the stock will "be rewarded by the market" for the company's guidance raise. Slabaugh keeps an Overweight rating on Darden shares.
03/21/19
GDHS
03/21/19
UPGRADE
Target $111
GDHS
Hold
Darden upgraded to Hold from Underperform at Gordon Haskett
Gordon Haskett analyst Jeff Farmer upgraded Darden (DRI) to Hold from Underperform, noting that the company and Bloomin' Brands (BLMN) are the only two casual dining companies over the last two quarters that have been able to convert same-store sales upside into upward revisions to consensus estimates for both earnings and margins, which is a dynamic he expects to continue into FY20. Farmer raised his FY19 and FY20 EPS estimates for Darden following the company's earnings report and increased his price target on the stock to $111 from $97.
03/22/19
MZHO
03/22/19
NO CHANGE
Target $130
MZHO
Buy
Darden price target raised to $130 from $125 at Mizuho
Mizuho analyst Jeremy Scott raised his price target for Darden Restaurants to $130 from $125 and reiterates a Buy rating on the shares following the company's fiscal Q3 results. The key headline was "significantly" better than expected restaurant margins, which were powered by labor productivity across all concepts, Scott tells investors in a research note titled "Rolling Downhill." He believes Darden's value and service-led model, "supported by best-in-class operating fundamentals," will continue to pull market share over the coming years.

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