Darden price target raised to $165 from $160 at RBC Capital

RBC Capital analyst Christopher Carril raised the firm’s price target on Darden to $165 from $160 and keeps an Outperform rating on the shares. The company’s Q3 results were "solid" with a "strong" top line and a "modest" margin beat, the analyst tells investors in a research note. While commodity inflation remains stubbornly elevated, the trend remains encouraging, RBC added, citing Darden pointing to its food basket that should moderate to low single digit inflation in FY24.