Market Overview

UPDATE: Sterne Agee Cuts PT to $55 on Darden Restaurants Following Q2 Miss

Related DRI
11 Activist Investors Who Have Shaped The Market
Why Darden's Turnaround Story Is Now 'More Compelling'
Darden Restaurants: Solid Dividends and Potential Upside (GuruFocus)

Sterne Agee reiterated its Buy rating on Darden Restaurants (NYSE: DRI) but reduced its price target from $63 to $55.

Sterne Agee commented, "We believe that the shortfall in 2Q earnings is the function of a soft macro environment coupled with company-specific missteps on the promotional front. While disappointing, we have lowered our EPS estimates to the low end of management's guidance and believe that the bad news is largely reflected in the stock at this level. Also, we believe that a dividend yield of ~4.3% will provide support for the stock."

Darden Restaurants closed at $47.40 on Tuesday.

Latest Ratings for DRI

Nov 2015Credit SuisseMaintainsOutperform
Nov 2015Deutsche BankMaintainsBuy
Oct 2015Maxim GroupUpgradesHoldBuy

View More Analyst Ratings for DRI
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (DRI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters