Jefferies Lifts Price Target on Darden Restaurants (DRI) to $60

Jefferies boosted estimates and its price target on Darden Restaurants (NYSE: DRI) from $53 to $60 following in-line Q3 results last week.

While results showed no real surprises, they note "OG improved m/m, but DRI's caution about industry choppiness confirms our belief that March sales slowed across the CD category."

Q3 EPS goes down from $1.21 to $1.20, FY12 EPS goes up from $3.60 to $3.63 and FY13 EPS goes up from $4.00 to $4.05.

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 $50.92 yesterday.

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