Darden price target raised to $175 from $160 at TD Cowen

TD Cowen analyst Andrew Charles raised the firm’s price target on Darden to $175 from $160 and keeps an Outperform rating on the shares. The firm said we are confident in the core brands’ sustained share gains while 2024 sets up to be another year of achieving 10%+ TSR. If a deteriorating macro were to weigh on industry traffic, we would expect a reduction of G&A to be the first lever management would pull.