Darden price target raised to $185 from $180 at BofA

BofA raised the firm’s price target on Darden to $185 from $180 and keeps a Buy rating on the shares. LongHorn continues to outpace the casual dining industry on sales and transaction growth, and while Olive Garden outpaced the industry on traffic, it lagged on sales comps, suggesting that it’s not fully offsetting its lower pricing with better traffic, the analyst tells investors in a research note. Marketing highlighting the sharp everyday value available on Olive Garden’s menu should support a widening traffic gap and improving topline, the firm says.