Jefferies Downgrades Darden Restaurants (DRI) to Hold

Jefferies downgraded Darden Restaurants (NYSE: DRI) from Buy to Hold with a price target of $47.00 (from $61.00) following yesterday's weak guidance.

"With DRI preannouncing a disappointing F2Q miss & once again lowering guidance into the qtr, we are downgrading the stock from Buy to Hold. Valuation is reasonable & we like the Yardhouse acq, but sales have stagnated despite multiple efforts to reinvigorate traffic. We cut our F13/14 EPS to $3.35/3.82, PT to $47 and rating to Hold as we await better visibility on the top line."

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 $47.40 yesterday.

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