DRI - Why Darden Restaurants Still Packs A Punch Despite Slower Comps: Analyst Lowers Price Target But Keeps Outperform Rating | Benzinga
Raymond James analyst Brian Vaccaro reiterated an Outperform rating on the shares of Darden Restaurants Inc (NYSE: DRI) and lowered the price target from $175 to $165.
The analyst expects F1Q24 adjusted EPS of $1.74 versus $1.56, $0.03 above consensus. F1Q revenue is expected to be $2.71 billion (+10.8% y/y), reflecting blended comps +4.3% and ~10 weeks of Ruth’s Chris revenue.
Store margins are expected to increase 70 basis points y/y to 18.0%, reflecting lower COGS partially offset by slightly higher labor, Other Opex, and marketing costs.
Never Ending Pasta (NEP) is starting one week earlier than last year and will be available for 8 weeks (9 weeks for e-club) ...