Darden price target raised to $175 from $165 at BMO Capital

BMO Capital raised the firm’s price target on Darden (DRI) to $175 from $165 and keeps a Market Perform rating on the shares. The company’s Q1 results missed consensus as softer comps and restaurant margins more than offset favorable G&A and taxes, but despite the softer performance, the management reiterated FY25 guidance, reflecting August and September recovery in sales trends as well as optimism for Darden pivot to more proactive sales driving approach, including its Uber (UBER) delivery partnership announcement, the analyst tells investors in a research note.