Darden price target raised to $155 from $140 at Cowen

Cowen analyst Andrew Charles raised the firm’s price target on Darden to $155 from $140 and keeps an Outperform rating on the shares. The analyst said he noted improved casual dining sales over the last ~3 weeks, with a cautiously optimistic view on 2023 as the difficult industry traffic and margin backdrop should accelerate share gains from independents to multi-unit concepts.