Wells Fargo Upgrades Darden Restaurants (DRI) to Outperform; Recent Pullback Offers Opportunity

Wells Fargo upgraded Darden Restaurants (NYSE: DRI) from Market Perform to Outperform with a price target range of $50-$54.

Wells analyst says, "We think the pullback in DRI shares following the FQ1 pre-release of lower than expected results may provide a compelling opportunity to buy the stock...Lowering our FQ1 EPS estimate to $0.78 from $0.85 and our FY2012E to $3.84 from $3.87. Maintaining our FY2013 estimate of $4.36 and our valuation range."

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 $44.54 yesterday.

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