Android app on Google Play

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: $44.66 -1.39%

Rating Summary:
    6 Buy, 21 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 38 | New: 6
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.




You May Also Be Interested In


Related Categories

Analyst EPS Change, Analyst PT Change, Downgrades

Related Entities

Goldman Sachs

Add Your Comment