Darden price target raised to $160 from $156 at Citi

Citi analyst Jon Tower raised the firm’s price target on Darden to $160 from $156 and keeps a Buy rating on the shares. The analyst expects that a "relatively solid consumer response" to Olive Garden’s NEPB promotion pushed fiscal Q2 above Street estimates and will cause management to tighten fiscal 2023 guidance closer to the higher end of the prior range. A modest beat and tightening of guidance "should help buoy shares," particularly as the near-term path forward eases, Tower tells investors in a research note.