These Analysts Boost Their Forecasts On Darden Restaurants Following Q4 Results

Darden Restaurants Inc DRI reported mixed fourth-quarter financial results and issued guidance.

Darden Restaurants reported fourth-quarter FY23 sales growth of 6.4% year-on-year to $2.769 billion, marginally missing the analyst consensus of $2.77 billion. EPS of $2.58 beat the consensus of $2.54.

Darden sees FY24 sales of $11.5 billion - $11.6 billion versus the Street view of $11.15 billion. DRI expects FY24 adjusted EPS from continuing operations of $8.55 - $8.85 against the consensus of $8.78.

Darden Restaurants shares fell 2.6% to close at $162.13 on Thursday.

These analysts made changes to their price targets on Darden Restaurants following earnings announcement.

• TD Cowen raised the price target on Darden Restaurants from $160 to $175. TD Cowen analyst Andrew Charles reiterated an Outperform rating.
• Wedbush boosted the price target on Darden Restaurants from $175 to $178. Wedbush analyst Nick Setyan maintained an Outperform rating.

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