J.P. Morgan Reports Better Than Expected Guidance On Darden Restaurants

According to J.P. Morgan, Darden Restaurants DRI saw better than expected guidance. J.P. Morgan said that Darden reported 4Q11 EPS of $1.00 vs. the $0.98 and $1.00 consensus. “Our new $57 price target assumes the same 14-14.5x target multiple as before vs. midteens long-term group average.” Darden Restaurants closed yesterday at $49.76.