Darden price target lowered to $180 from $190 at Stifel

Stifel analyst Chris O’Cull lowered the firm’s price target on Darden to $180 from $190. Darden reported better than expected Q4 earnings, with the upside to estimate driven primarily by lower-than-expected food and labor expenses, but revenue fell short of Street estimates for the third consecutive quarter, the analyst tells investors in a research note. Stifel keeps a Buy rating on the shares, but would be more cautious if there is evidence that Olive Garden’s value perception has weakened relative to the competitive set, potentially requiring it to reset its check average and profitability, the firm says.