Wells Fargo Resumes Coverage on Darden Restaurants (DRI) at Outperform; Retaking Market Share

Wells Fargo resumes coverage on Darden Restaurants (NYSE: DRI) with an Outperform. PT range $58-62.

Analyst, Jeff Farmer, said, "We expect Darden to retake market share and drive multiple expansion in the coming quarters as Olive Garden, Red Lobster, and LongHorn Steakhouse benefit from (1) an increasing focus on explicit value promotions and price certainty, (2) remodels, and (3) a growing media presence (LongHorn)."

"The combination of price certainty and value has proven to be a powerful traffic driver at Red Lobster (RL), a trend we expect to continue in FY2013."

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 $50.89 yesterday.

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