Miller Tabak Boosts Target on Darden to $59, Cites Easy Comps at Red Lobster, LongHorn

Miller Tabak's Stephen Anderson increased his price target on Darden Restaurants, Inc.

from $54 to $59 Monday. The analyst believes the company's sales will exceed those of its competitors. Anderson said, "As we expect DRI to continue its value focus, we anticipate above-peer traffic growth in the next few quarters." Anderson pointed to sluggish sales at Olive Garden, but iterated weakness at Red Lobster and LongHorn Steakhouse has been around for some time, making easy comparables. The Miller Tabak analyst maintains a Buy rating on shares of Darden. With the stock closing up just two pennies to $53.45, Anderson's new price target implies potential upside of about 10 percent.