Darden price target raised to $165 from $152 at Baird

Baird raised the firm’s price target on Darden to $165 from $152 and keeps a Neutral rating on the shares. The firm said the Q4 report was not as strong as we recently envisioned, and the initial F2024 profit outlook for the core business is beneath consensus estimates. We remain confident in the company’s internal fundamentals and still believe the company is positioned to produce good performance on a relative basis in upcoming periods. However, we are staying patient with our rating.