Darden upgraded to Hold from Underperform at Jefferies

Jefferies analyst Andy Barish upgraded Darden (DRI) to Hold from Underperform with a price target of $210, up from $165. The firm has become “increasingly positive” on Darden’s ability to return its core Olive Garden brand to “Every Day Affordable Price” leadership in casual dining and compete more effectively for traffic going forward. Citi that and a likely solid fiscal Q4 report on June 20, Jefferies increased slightly through fiscal 2024. Although Darden’s valuation is “still rich,” the improvements at Olive Garden merit an upgrade to Hold, the analyst tells investors in a research note.