These Analysts Boost Price Targets On Darden Restaurants After Strong Q3 Earnings

Darden Restaurants Inc DRI reported better-than-earnings for its third quarter.

Darden reported sales growth of 13.8% year-on-year to $2.79 billion, beating the consensus of $2.73 billion. EPS of $2.34 beat the consensus of $2.25.

Darden sees FY23 sales of $10.45 billion - $10.5 billion (prior view $10.3 billion - $10.45 billion) versus the consensus of $10.42 billion.

Darden shares fell 0.4% to close at $150.52 on Thursday.

These analysts made changes to their price targets on Darden following the release of results.

• Stephens & Co. raised the price target on Darden Restaurants from $150 to $165. Stephens & Co. analyst Joshua Long maintained an Overweight rating.
• Barclays increased the price target on Darden Restaurants from $168 to $173. Barclays analyst Jeffrey Bernstein maintained an Overweight rating.
• Raymond James boosted the price target on Darden Restaurants from $160 to $165. Raymond James analyst Brian Vaccaro maintained the stock with an Outperform rating.
• Baird raised the price target on Darden Restaurants from $148 to $152. Baird analyst David Tarantino maintained the stock with a Neutral rating.
• Citigroup raised the price target on Darden Restaurants from $165 to $169. Citigroup analyst Jon Tower maintained the stock with a Buy rating.
• Credit Suisse raised the price target on Darden Restaurants from $157 to $165. Credit Suisse analyst Lauren Silberman maintained the stock with an Outperform rating.
• BMO Capital increased the price target on Darden from $145 to $150. BMO Capital analyst Andrew Strelzik maintained the stock with a Market Perform rating.

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