Goldman Sachs reduced its rating on Darden Restaurants DRI from Buy to Neutral and lowered its price target from $65 to $49.
Goldman Sachs commented, "We downgrade DRI shares from Buy to Neutral as we fully digest the implications of the company's soft November quarter results. We continue to see DRI as a high-quality company with good brands, and we had previously been attracted by DRI's risk-reward profile, especially in light of a potential Olive Garden turnaround. However, our confidence in a timely Olive Garden turnaround appears to have been misplaced and trends at DRI's other brands have since deteriorated."
Darden Restaurants closed at $46.66 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in