Darden price target lowered to $180 from $194 at BofA

BofA lowered the firm’s price target on Darden to $180 from $194 and keeps a Buy rating on the shares. The firm’s slightly lowered Q4 same-store sales growth estimate of 0.6%, down from 0.9% previously, is partly offset by lower food and labor costs, which results in a relatively unchanged Q4 EPS forecast. The firm lowers its FY25 EPS estimate to $9.75 from $10.00, or 2.5%, as it forecasts slightly slower same-store sales growth and higher marketing and G&A expenses, though notes that it remains ahead of the consensus of $9.57.