Barclays Analyst Day Preview on Darden Restaurants (DRI); No Quick Fix For Olive, But Continues to See Upside
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Price: $225.26 +0.79%
Rating Summary:
27 Buy, 18 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
27 Buy, 18 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Darden Restaurants (NYSE: DRI) price target raised from $50 to $54.
Analyst, Jeffrey A. Bernstein, said, "In past years, Darden has pre-announced F3Q results and updated guidance ahead of its Analyst Day. We expect such later this week, with a beat and raise likely. Results should benefit from accelerating industry comps (partly on weather), successful brand specific / traffic driving promos at both core brands (blended comps at least +2-3%, similar to guidance), and benefit from easing food costs (6% in F12, with 8% in 1H & 4% in 2H)."
Bernstein raises FY12 EPS estimate from $3.52 to $3.60 and FY13 from $3.90 to $4.00. Bernstein feels that shares could be volatile going into Analyst Day, but continue to be buyers on compelling valuation.
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 $50.90 yesterday.
Analyst, Jeffrey A. Bernstein, said, "In past years, Darden has pre-announced F3Q results and updated guidance ahead of its Analyst Day. We expect such later this week, with a beat and raise likely. Results should benefit from accelerating industry comps (partly on weather), successful brand specific / traffic driving promos at both core brands (blended comps at least +2-3%, similar to guidance), and benefit from easing food costs (6% in F12, with 8% in 1H & 4% in 2H)."
Bernstein raises FY12 EPS estimate from $3.52 to $3.60 and FY13 from $3.90 to $4.00. Bernstein feels that shares could be volatile going into Analyst Day, but continue to be buyers on compelling valuation.
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 $50.90 yesterday.
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