Citi analyst Jon Tower raised the firm’s price target on Darden Restaurants to $187 from $169 and keeps a Buy rating on the shares ahead of the fiscal Q4 results. The analyst expects Darden’s results will continue to confirm the company’s ability to outperform peers regardless of the economic backdrop. The firm believes the company’s fiscal 2024 guidance will meet consensus expectations for the legacy concepts while still embedding conservatism. Citi views the stock’s risk/reward favorably “in an environment with choppier high frequency data on the demand environment.”
Published first on TheFly
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