Darden price target lowered to $191 from $192 at Citi

Citi lowered the firm’s price target on Darden to $191 from $192 and keeps a Buy rating on the shares ahead of its Q4 results on June 20th. The quarter will show that the company was not immune to a continued pullback in category spend by lower-income consumers along with a more “thoughtful cost management” in the presence of softer sales, the analyst tells investors in a research note. Darden’s intentional avoidance of deep discounts and promos to attract consumers comes at the near-term cost of sales and earnings but likely preserves the company’s long-term profit trajectory, the firm added.