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Fly News Breaks for May 20, 2019
DRI, DFRG
May 20, 2019 | 14:03 EDT
After The Deal reported that final bids for Del Frisco's (DFRG) are coming in around $9 per share and said Darden (DRI) is rumored to be among the final bidders, Stephens analyst Will Slabaugh told investors that he thinks this "makes sense on some level," noting that such a deal would allow the company gain three growing brands while "virtually eliminating corporate overhead." However, he added that Darden moving deeper into upscale dining after having acquired Barcelona and Bartaco last year and selling Sullivan's "would be somewhat of a surprise." Slabaugh has an Equal Weight rating and $6.50 price target on Del Frisco's shares.
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