Morgan Stanley Reiterates on Darden Restaurants as Cost Cutting/Capex Reduction Remain Best Near-Term Options

In a report published Tuesday, Morgan Stanley analyst John Glass reiterated an Equal-Weight rating and $50.00 price target on

. In the report, Morgan Stanley noted, “Spinning off growth brands and real estate monetization could create up to ~$12 in value, in our view, though does not solve the underlying fundamental issues at DRI. Of the two, we see more strategic value in the spin off, but further cost and capex cutting remain the best near term options.” Darden Restaurants closed on Monday at $51.53.