Darden price target raised to $165 from $160 at Wedbush

Wedbush analyst Nick Setyan raised the firm’s price target on Darden to $165 from $160 and keeps an Outperform rating on the shares. Checks point to Q3 Olive Garden same-store sales growth in line-to-above consensus and LongHorn same-store sales growth above consensus, the firm says. Wedbush expects raised 2023 top line guidance and views 2024 same-store sales growth expectations as very reasonable. The firm also sees little risk to margin expectations.