Citi Maintains Buy Rating on Darden Restaurants

According to Citi, Darden Restaurants (NYSE: DRI) Buy rating is maintained.

Citi said that DRI reported FY2Q EPS of 41c (including a -1c impact from closing costs related to its Eddie V's Restaurant acq) vs. preannounced EPS of 41c on 12/6. SSS at the 3 top brands were 1.8% in line w/ 12/6 preannounce. “The Q was impacted by softer than expected SSS at Olive Garden and a greater negative impact from commodity costs due to less pricing across all of its core brands as well as increased promotions/discounts at Olive Garden.”

Darden Restaurants closed yesterday at $43.74.