Oppenheimer analyst Brian Bittner reiterated a Buy rating on Darden (DRI) today and set a price target of $125. The company’s shares opened today at $116.11.
Bittner said:
“DRI delivered a stellar 3Q print and again raised guidance for ’19 in line with our thesis. Mgmt also provided an early peek into ’20 earnings dynamics, which our work suggests will force consensus estimates a touch higher. DRI’s execution remains above-average, OG momentum appears healthy and weak Cheddar’s trends are getting better. This, along with ongoing productivity initiatives and its size/scale advantages, gives us confidence DRI remains uniquely positioned to expand margins while most casual diners appear to have downside. Reiterate Outperform, raise estimates and up PT to $125.”
According to TipRanks.com, Bittner is a 5-star analyst with an average return of 10.9% and a 68.8% success rate. Bittner covers the Services sector, focusing on stocks such as Restaurant Brands International, Jack In The Box Inc, and Yum China Holdings.
Darden has an analyst consensus of Strong Buy, with a price target consensus of $127.33, which is a 9.7% upside from current levels. In a report released today, Stephens also maintained a Buy rating on the stock.
See today’s analyst top recommended stocks >>
Based on Darden’s latest earnings release for the quarter ending November 30, the company reported a quarterly net profit of $116 million. In comparison, last year the company had a net profit of $218 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Darden Restaurants, Inc. engages in the provision of restaurant services. It operates through the following segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The Olive Garden segment is the largest full-service dining Italian restaurant operator.
