Darden price target raised by $10 at Evercore ISI, here’s why

Evercore ISI raised the firm’s price target on Darden to $170 from $160 and keeps an In Line rating on the shares. The firm expects upside to Q2 consensus EPS and sales forecasts and also raised its own FY24 EPS estimate. However, while casual dining industry sales have been resilient to date, Evercore’s base case is sales will moderate in 2024 and as a result share gains will be even more important for both Olive Garden and Long Horn, the analyst tells investors.