BTIG lowered the firm’s price target on Darden (DRI) to $225 from $235 and keeps a Buy rating on the shares. The company posted a mixed Q1, with stellar sales performance including mid-single digit comps driven by traffic, and growth across all income cohorts, the analyst tells investors in a research note. The management’s strategy to under-price competitors and inflation is resonating with consumers, setting up a stronger sales outlook, but coming at the expense of some near-term profitability, the firm added.
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