Darden price target lowered to $160 from $167 at BMO Capital

BMO Capital analyst Andrew Strelzik lowered the firm’s price target on Darden to $160 from $167 and keeps a Market Perform rating on the shares. The firm has greater confidence in potential Olive Garden and LongHorn comp upside, and expects COGS to come in more favorably than prior, but also notes that Darden’s traffic data slowed in recent weeks as casual dining consumer spending durability may be fading, the analyst tells investors in a research note.