Darden price target lowered to $180 from $183 at RBC Capital

RBC Capital analyst Christopher Carril lowered the firm’s price target on Darden to $180 from $183 but keeps an Outperform rating on the shares. The company delivered a “solid” Q1 result despite the growing concerns around consumer health and challenging casual dining comparisons heading into the fall, the analyst tells investors in a research note. The management maintained its full-year guidance following a strong Q1, which is “prudent”, though RBC continues to see potential for Darden to deliver FY24 EPS at the top of the range given easing inflationary pressures and better-than-anticipated synergies following the Ruth’s Chris acquisition, the firm adds.