Darden Restaurants Reports Strong Fourth Quarter And Full Year Results; Company Provides Fiscal 2016 Outlook
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June 24, 2015 9:32 AM EDT
Piper Jaffray reiterates a Neutral rating on Darden Restaurants (NYSE: DRI), and raised the price target to $66.00 (from $60.00), following its 4Q15 results. Operating EPS of $1.08 per share came in ahead of consensus expectations of $0.93.
Analyst Nicole Regan commented, "Darden recently reported 4Q15 results that... More
June 24, 2015 7:12 AM EDT
RBC Capital reiterates a Sector Perform rating on Darden Restaurants (NYSE: DRI), and raised the price target to $74.00 (from $70.00), to reflect improved fundamentals and likely value from the separation of the company's real estate portfolio into a REIT. Analyst David Palmer believes that McDonalds and... More
June 23, 2015 7:05 AM EDT
Darden Restaurants (NYSE: DRI) announced that its Board of Directors approved a strategic real estate plan to pursue a separation of a portion of the Company's real estate assets. The separation would be achieved through a combination of selected sale leaseback transactions and the transfer of a portion of its remaining real estate assets to a new real estate investment trust ("REIT") that will be separated by a spin-off, split-off or similar transaction, resulting in the REIT becoming an independent, publicly-traded company (the "REIT Transaction").
The Company's Board reached this decision after considering various... More
