Darden price target raised to $165 from $150 at TD Cowen

TD Cowen raised the firm’s price target on Darden to $165 from $150 and keeps a Hold rating on the shares. The firm likes that Olive Garden is taking more proactive measures to protect traffic, but worries “this will not be impactful enough” for Darden to make the 1.4% portfolio-wide same-store sales growth consensus. The firm, which does not believe the Uber (UBER) partnership will have a material impact unless Olive Garden is ultimately added to the Uber Eats marketplace, models to the low end of FY25 same-store sales guidance and sees “greater risk of missing than beating.”