Darden price target raised to $220 from $200 at KeyBanc

KeyBanc raised the firm’s price target on Darden (DRI) to $220 from $200 and keeps an Overweight rating on the shares. The firm notes Darden’s Q3 results included EPS that was largely in line as better-than-expected restaurant-level margin offset a modest same-store sales growth shortfall, the latter largely the result of weather/calendar shifts. That said, the company’s commentary may have eased fears of an industry slowdown given Darden’s unique view into the consumer, while same-store sales trends improved more than expected during the first three weeks of Q4.