UPDATE: Deutsche Bank Lowers PT on Darden Restaurants Following F4Q13 Results
In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Darden Restaurants (NYSE: DRI), but lowered the price target from $54.00 to $53.00.
In the report, Deutsche Bank noted, “What to do with the stock? DRI's shares have been range-bound for the past ~3 yrs. We believe this pattern will continue absent more evidence of a convincing turnaround plan for sales and margins. Unfortunately, we came away from F4Q13 results feeling that we are no closer to this turnaround, particularly given sluggish industry trends. As such, we believe DRI shares are only appropriate for very patient investors with a desire for near-term yield. Maintain Hold.”
Darden Restaurants closed on Friday at $50.12.
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