Darden resumed with an Equal Weight at Stephens

Stephens analyst Jim Salera resumed coverage of Darden with an Equal Weight rating and $170 price target. Darden represents “a bellwether stock in the restaurant industry,” says the analyst, citing long-term performance supported by strong unit economics. However, in the near-term a cautious consumer has pressured traffic and the firm believes the current economic backdrop, coupled with its premium valuation, presents “a balanced risk/reward setup for shares.”