UPDATE: J.P. Morgan Lowers Price Target on Darden Restaurants to $53

By Steven Anfield
Benzinga Staff Writer
December 07, 2011 9:01 AM

Symbols: DRI

Posted in: Analyst Color, Price Target, Analyst Ratings

According to J.P. Morgan, Darden Restaurants (NYSE: DRI) price target is lowered to $53.

J.P. Morgan said that Darden preannounced results Tuesday with F2Q (Nov) EPS of $0.41 (-24% y/y) vs. its $0.53 and consensus $0.54. “We believe the next major catalyst, in addition to the Dec-16 2Q conference call for commodity contract visibility, will be the Feb-24 investor day in NY.”

Darden Restaurants closed yesterday at $41.82.

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UPDATE: J.P. Morgan Lowers Price Target on Darden Restaurants to $53

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