Darden price target lowered to $170 from $177 at KeyBanc

KeyBanc lowered its price target on Overweight-rated Darden to $170 from $177 as the firm sees slight downside to estimates relative to consensus. KeyBanc now models – based on its proprietary/third-party data sources – Q4 blended same-store sales growth of +0.3% and is lowering its FY25 same-store sales growth estimate from +1.9% to +1.5%. The firm continues to view Darden as a long-term share gainer with credible sales drivers, industry-leading scale, and a diversified portfolio of brands that should enable it to outperform through various economic cycles.