J.P. Morgan Adjusts Quarterly Estimates On Darden Restaurants

According to J.P. Morgan, Darden Restaurants DRI quarterly estimates are adjusted. J.P. Morgan said that, after listening to Darden's earnings call on Friday morning, it is even more confident that the company can at least achieve the bottom end of its newly guided 12-15% range for F12. “Even with the stock's run on Friday, it is currently trading at ~13x our C12 estimate with an above average dividend yield of 3.3%. We still believe that DRI is a buy at current levels.” Darden Restaurants closed on Friday at $52.79.