Piper Jaffray Overweight On Darden Restaurants

Piper Jaffray is out with a research report on Darden Restaurants DRI and it has a Overweight rating and a $56 price target on shares. In a note to clients, Piper Jaffray writes, "As illustrated below, on a calendarized basis Darden has outperformed Knapp Track by an average of approximately 130 bps over the past seven quarters. Although the gap for DRI narrowed recently, we would note that Darden has outpaced Brinker on a continued basis. For Darden, we estimate each 1% comp change =~$0.13 per share. For Brinker, each 1% comp change = ~$0.12 per share." Shares of DRI lost 27 cents on Friday to close at $53.28, a loss of 0.5%.