In a report published on Monday, Jefferies analyst Andy Barish raised the price target on Darden Restaurants DRI from $43 to $50 and maintained a Hold rating.
In the report, Jefferies stated, "F4Q SSS of +2.2% beat the Street's 0% as DRI's marketing around affordability appears to be driving traffic, but $1.01 EPS missed (consensus $1.04) as margins were negatively impacted. DRI's commitment to raising the dividend helps, but margin risk remains as DRI hits on value while food/labor costs rise & consumer spending remains choppy. We see F14/15 EPS of $3.04/3.26 (was $3.10/NE), vs. the Street's $3.18/3.49. PT $50 (from $43)."
Darden Restaurants closed on Friday at $50.12.
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