Darden price target lowered to $183 from $185 at RBC Capital

RBC Capital analyst Christopher Carril lowered the firm’s price target on Darden to $183 from $185 and keeps an Outperform rating on the shares. The analyst reduces the firm’s FY24 EPS view to $8.87 from $9.08 and its FY25 view to $10.22 from $10.50 as Fine Dining continues to face tough, post-Omicron comparisons, and given the higher interest expense. Darden’s Q4 results were generally solid however and there’s potential for FY24 to at least reach the top-end of new FY24 EPS guidance as food inflation cost moderates, the firm tells investors in a research note.