Darden price target raised to $190 from $180 at Guggenheim

Guggenheim raised the firm’s price target on Darden to $190 from $180 and keeps a Buy rating on the shares. The firm updated its estimates and price target for Darden ahead of earnings this coming Thursday morning, noting it held its multiple discount to the S&P 500 in a rising market. After a slow top-line start to 2024 for the industry, there is a lot of pressure on category sales to improve over the next 4-6 weeks, says the analyst, who thinks Darden can get through Q3 earnings without a material cut to FY24 EPS estimates and argues that the discount to the S&P 500 “makes the stock look attractive.”