Darden Restaurants Could Be Big COVID-19 Vaccine Winner, Cramer Says
Jim Cramer gave his take on which stocks could be winners with a COVID-19 vaccine on the way.
Cramer On Darden: On CNBC Monday morning, Cramer highlighted Darden Restaurants Inc (NYSE:DRI) as a company that could be a big winner with a potential vaccine coming in 2021 from Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX).
“I think a Darden Restaurant will be the first place many people eat out again.”
Cramer said Darden, owner of Olive Garden and LongHorn Steakhouse, is large enough to make it through the winter and into a time period when we have a vaccine.
Many small and medium-sized restaurants may not make it through the winter, Cramer said.
Cramer said Darden expanded its digital business during the pandemic and could see strong carryout business even after the vaccine is approved.
“They’re the winner.”
DRI Price Action: Shares of Darden are up 15% to $117.10 Monday. Shares are up 50% over the last six months and getting closer to their 52-week high of $124.01.
Image: Mike Mozart, Flickr
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.