UBS Maintains a 'Buy' on Darden Restaurants (DRI); Updating the Numbers

UBS maintains a 'Buy' on Darden Restaurants (NYSE: DRI) price target cut $3 to $51.

UBS analyst says, "We continue to believe that bar and grill chains (e.g. Applebee’s and Chili’s) are taking share with nationally advertised value propositions. To some degree, Darden's result also highlights modest industry weakness in August given depressed consumer confidence and Hurricane Irene, which reduced August SSS by almost 1pp. These factors underscore the need to create compelling new value news--particularly at Olive Garden (OG), which lost share in the quarter...We are lowering our FY12 EPS estimates to $3.80 from $3.85."

For more ratings news on Darden Restaurants click here and for the rating history of Darden Restaurants click here.

Shares of Darden Restaurants closed at $46.18 yesterday.

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