BMO Capital Maintains Market Perform Rating for Darden Restaurants: Here's What You Need To Know

BMO Capital has decided to maintain its Market Perform rating of Darden Restaurants DRI and raise its price target from $150.00 to $160.00.

Shares of Darden Restaurants are trading up 1.07% over the last 24 hours, at $163.86 per share.

A move to $160.00 would account for a 2.36% decline from the current share price.

About Darden Restaurants

Darden Restaurants is the largest restaurant operator in the U.S. full-service space, with consolidated revenue of $9.6 billion in fiscal 2022 resulting in 3%-4% full-service market share (per NRA data and our calculations). The company maintains a portfolio of eight restaurant chains: Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Eddie V's, and Bahama Breeze. Darden generates revenue almost exclusively from company-owned restaurants, though a small network of franchised restaurants and consumer-packaged goods sales through the traditional grocery channel contribute modestly. As of the end of its fiscal 2022, the company operated 1,864 restaurants in the U.S.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.