Increasing Same Store Sales At Olive Garden Signals Bullish Outlook For Darden Restaurants: Analyst
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Nick Setyan reiterated an Outperform rating on Darden Restaurants Inc (NYSE:DRI) and raised the price target from $165 to $175. FQ4 Olive Garden checks indicate same-store-sales growth of at least 4.7%, with improved guest counts, off-premise sales, and staffing levels. The analyst also raised LongHorn same-store sales growth estimate to 5% from 4%.
June 01, 2023 | 6:20 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Wedbush analyst raises Darden Restaurants' price target to $175, citing strong FQ4 Olive Garden and LongHorn same-store sales growth.
The analyst's positive outlook on Darden Restaurants is based on strong FQ4 same-store sales growth at Olive Garden and LongHorn, improved guest counts, off-premise sales, and staffing levels. This indicates a bullish outlook for the company, which is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100