Darden Restaurants (DRI) PT Raised to $158 at Truist Securities Following EPS
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Truist Securities analyst Jake Bartlett raised the price target on Darden Restaurants (NYSE: DRI) to $158.00 (from $150.00) while maintaining a Buy rating.
The analyst commented, "F3Q21 results and current trends give us increased confidence that DRI will benefit from a strong sales recovery, while maintaining operating efficiencies. Blended SSS were +5.4 the week ending 3/21 vs. FY19, due in part to stimulus checks, but were down just -14.9% the 2-weeks ending 3/7, before the stimulus checks and the re-opening of CA, despite capacity of 50-60% due to CDC social distancing guidelines. F4Q21 EBITDA margin guidance is +250bps higher than in F4Q19, driven primarily by sustainable operating efficiencies. We are increasing ests. and our PT to $158. from $150."
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