Goldman Sachs Downgrades Darden Restaurants (DRI) to Neutral on Limited Visibility

December 13, 2012 7:45 AM EST Send to a Friend
Get Alerts DRI Hot Sheet
Price: $50.47 +0.34%

Rating Summary:
    7 Buy, 21 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 26 | New: 14
Trade DRI Now!
Join SI Premium – FREE
Goldman Sachs downgraded Darden Restaurants (NYSE: DRI) from Buy to Neutral with a price target of $49.00 (from $65.00) on limited visibility towards a stabilization of results

The firm comments, "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."

Goldman lowers fiscal 2013-2015 EPS estimates to $3.49/$3.64/$3.92 from $3.91/$4.45/$5.05 to reflect reduced same-store sales as well as associated margin de-leverage.

For an analyst ratings summary and ratings history on Darden Restaurants click here. For more ratings news on Darden Restaurants click here.

Shares of Darden Restaurants closed at $45.80 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst EPS Change, Analyst PT Change, Downgrades

Related Entities

Goldman Sachs

Add Your Comment