Darden price target raised to $190 from $186 at Truist

Truist analyst Jake Bartlett raised the firm’s price target on Darden to $190 from $186 and keeps a Buy rating on the shares. The company’s strong Q1 results suggest that its FY24 guidance is conservative with “still strong” same-store-sales performance, lower than expected Q1 commodity inflation, and decelerating wage inflation, the analyst tells investors in a research note. Darden has noted some ‘check management’ and some softness from higher income consumers, but the management also believes that the consumer “continues to be resilient”, the firm added.