UPDATE: Miller Tabak Cuts PT to $54 on Darden Restaurants on Choppy Earnings Environment
Miller Tabak maintained Darden Restaurants (NYSE: DRI) with a Buy rating and lowered the price target from $55.00 to $54.00.
Miller Tabak commented, "We reiterate our Buy rating on Darden Restaurants (DRI) following this week's investor conference as we argue management is laying the groundwork for a longer-lasting turnaround at the company's three main brands. Although the company's value initiatives arguably have amplified negative comps recently, we think over time these initiatives will lead to increased customer visits as they did in the mid-scale bar-andgrill segment in 2011."
Darden Restaurants closed at $46.83 on Wednesday.
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