Why Darden Restaurants Still Packs A Punch Despite Slower Comps: Analyst Lowers Price Target But Keeps Outperform Rating
Portfolio Pulse from Shivani Kumaresan
Raymond James analyst Brian Vaccaro has reiterated an Outperform rating on Darden Restaurants Inc (DRI) but lowered the price target from $175 to $165. The analyst expects F1Q24 adjusted EPS of $1.74, $0.03 above consensus, and F1Q revenue of $2.71 billion. Despite DRI shares being down ~7% in the past month, the analyst believes the stock can outperform if a softer comp environment persists.
September 14, 2023 | 6:14 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Darden Restaurants Inc's price target has been lowered from $175 to $165 by Raymond James analyst Brian Vaccaro, who maintains an Outperform rating on the stock. The analyst expects F1Q24 adjusted EPS of $1.74, $0.03 above consensus, and F1Q revenue of $2.71 billion.
The analyst's reiteration of an Outperform rating indicates a positive outlook for DRI, despite the lowered price target. The expected increase in F1Q24 adjusted EPS and revenue also suggests potential growth. However, the recent decline in DRI shares and the softer comp environment could pose challenges.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100