Goldman Sachs Downgrades Darden Restaurants (DRI) to Neutral on Limited Visibility
Tweet Send to a FriendGet Alerts DRI Hot Sheet
Price: $52.62 -1.92%
Rating Summary:
6 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
6 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade DRI Now!
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, with a 52 week range of $42.72-$57.93.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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, with a 52 week range of $42.72-$57.93.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- KeyBank Upgrades MDC Holdings (MDC); Cuts PulteGroup (PHM) & Ryland Group (RYL)
- Compuware (CPWR) Estimates Trimmed, PT Raised at Jefferies
- Goldman Sachs Maintains Sell on Microsoft (MSFT)
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst PT Change, DowngradesRelated Entities
Goldman Sachs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
