UPDATE: Deutsche Bank Raises PT on Darden Restaurants on Potential Win-Win Scenario
In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Darden Restaurants (NYSE: DRI), and raised the price target from $45.00 to $54.00.
In the report, Deutsche Bank noted, “DRI is intriguing here given the potential win-win set up, meaning 1) either mgmt.'s initiatives begin to gain traction (helped by easy compares for next 4 qtrs.) and earnings move higher or 2) pressure builds for more significant change at the co. In either case, risk-reward seems skewed to the upside, esp. considering yld. support. However, given the dramatic increase in industry valuations YTD (incl. DRI), we'd prefer to wait for better entry pt. Hold.”
Darden Restaurants closed on Tuesday at $53.13.
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