Deutsche Bank Starts Darden (DRI) at Hold; $30 Price Target
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Deutsche Bank initiates coverage Darden Restaurants (NYSE: DRI) with a Hold rating and a $30 price target.
The firm calls Darden the "leading casual dining player" and notes that it is "well-positioned to benefit from a rebound in consumer spending and lower food costs, particularly considering the 100% company-operated business model." At the same time, Deutsche said it will remain on the sidelines as valuation is somewhat rich at current levels.
Darden Restaurants, Inc., through its subsidiaries, engages in the ownership and operation of full-service restaurants primarily in the United States and Canada.
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