Barclays raised the firm’s price target on Darden (DRI) to $192 from $180 and keeps an Overweight rating on the shares. While Q1 results were “below expectation top to bottom,” Darden made it clear their portfolio and the broader industry were pressured by unexpected, incremental headwinds in July that were short lived, with trends re-accelerating in August and continuing in September. Meanwhile, the Darden portfolio will be increasing the frequency of price-point offers that meet profit targets, while also launching Uber (UBER) delivery starting at Olive Garden in Q2, noted the analyst, who also points out that FY25 guidance was reiterated.
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