Darden upgraded to Outperform from Neutral at Wedbush

Wedbush analyst Nick Setyan upgraded Darden to Outperform from Neutral with a price target of $160, up from $134. The analyst’s Q2 checks point to same-store sales growth in line-to-above at both Olive Garden and LongHorn. Setyan also expects Darden’s category share gains to accelerate in an increasingly uncertain consumer environment, rendering visibility into the company’s ability to achieve or exceed current consensus 2023 expectations relatively high.