Fly News Breaks for December 31, 2019
Dec 31, 2019 | 06:28 EDT
Citi analyst Gregory Badishkanian lowered his price target on Darden to $130, updating his model after the company's Q2 results and maintained FY20 guidance announced earlier this month. The analyst notes that Darden's comps came in-line with expectations systemwide, but Olive Garden performance undershot consensus for the 2nd consecutive quarter. Badishkanian believes that investors will look for the management to update its plans to improve Olive Garden momentum even though Darden continues to outperform the casual dining industry overall.
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