Market Overview

UPDATE: Goldman Sachs Downgrades Darden Restaurants to Neutral on Soft November Comps

Share:
Related DRI
The Top 10 Dividend Stocks Of 2015
Americans Are Dining Out More: Here's How To Play The Trend

Goldman Sachs reduced its rating on Darden Restaurants (NYSE: DRI) from Buy to Neutral and lowered its price target from $65 to $49.

Goldman Sachs commented, "We downgrade DRI shares from Buy to Neutral as we fully digest the implications of the company's soft November quarter results. We continue to see DRI as a high-quality company with good brands, and we had previously been attracted by DRI's risk-reward profile, especially in light of a potential Olive Garden turnaround. However, our confidence in a timely Olive Garden turnaround appears to have been misplaced and trends at DRI's other brands have since deteriorated."

Darden Restaurants closed at $46.66 on Wednesday.

Latest Ratings for DRI

DateFirmActionFromTo
Jul 2015BTIG ResearchInitiates Coverage onBuy
Jul 2015Goldman SachsInitiates Coverage onNeutral
Jun 2015BarclaysMaintainsOverweight

View More Analyst Ratings for DRI
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (DRI)

Get Benzinga's Newsletters