Raymond James Maintains Outperform Rating for Darden Restaurants: Here's What You Need To Know

Raymond James has decided to maintain its Outperform rating of Darden Restaurants DRI and lower its price target from $175.00 to $165.00.

Shares of Darden Restaurants are trading up 1.57% over the last 24 hours, at $151.15 per share.

A move to $165.00 would account for a 9.17% increase 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 $10.5 billion in fiscal 2023 resulting in 3%-4% full-service market share (per NRA data and our calculations). The company maintains a portfolio of 10 restaurant brands: Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Ruth's Chris, Yard House, The Capital Grille, Seasons 52, Eddie V's, Bahama Breeze, and The Capital Burger. 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 2023, the company operated 1,914 restaurants in the U.S.

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