BTIG raised the firm’s price target on Darden (DRI) to $235 from $210 and keeps a Buy rating on the shares ahead of its earnings. The valuation on the stock remains stretched at several turns above its historical average, but the firm sees several top-line catalysts that keeps it positive on the name, the analyst tells investors in a research note. BTIG further notes that it sees incremental transactions from delivery at Olive Garden and alsos believe customers switching from self-pick-up to delivery could add several hundred basis points of same-store sales growth in the quarters ahead.
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