Market Overview

UPDATE: Jefferies & Company Downgrades Darden Restaurants to Hold, Lowers PT

Share:
Related DRI
Earnings Season: Your Guide To When Each Sector Reports
5 Biggest Price Target Changes For Tuesday
Restaurant Industry Shows Signs of Sizzle (GuruFocus)

In a report published Wednesday, Jefferies & Company downgraded its rating on Darden Restaurants (NYSE: DRI) to Hold, and lowered its price target from $61.00 to $47.00.

Jefferies noted, “With DRI preannouncing a disappointing F2Q miss & once again lowering guidance into the qtr, we are downgrading the stock from Buy to Hold. Valuation is reasonable & we like the Yardhouse acq, but sales have stagnated despite multiple efforts to reinvigorate traffic. We cut our F13/14 EPS to $3.35/3.82, PT to $47 and rating to Hold as we await better visibility on the top line.”

Darden Restaurants closed on Tuesday at $47.40.

Latest Ratings for DRI

DateFirmActionFromTo
Dec 2017ArgusUpgradesHoldBuy
Oct 2017BMO CapitalMaintainsMarket Perform
Oct 2017ArgusDowngradesBuyHold

View More Analyst Ratings for DRI
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Downgrades Analyst Ratings

 

Related Articles (DRI)

View Comments and Join the Discussion!