Darden price target raised to $172 from $170 at BofA

BofA analyst Katherine Griffin raised the firm’s price target on Darden to $172 from $170 and keeps a Buy rating on the shares. Following the company’s Q3 report, BofA says it believe Darden’s strategy of underpricing peers is the right one for the current environment and "will prove increasingly important as the industry will have less price to rely on to drive comps in the coming quarters." The firm thinks Darden’s guidance for 3%-5% same-restaurant growth in Q4 could prove conservative, it added.