Darden Restaurants (DRI) PT Raised to $192 at Citi

Citi analyst Jon Tower raised the price target on Darden Restaurants (NYSE: DRI) to $192.00 (from $191.00) while maintaining a Buy rating.

The analyst comments "Results may vary, but strategy remains broadly the same: focus on everyday value and high service levels to win traffic/share rather than discount to drive sales. We expect some tweaks to the consumer message going forward (e.g., feature the everyday value price points more often on-air), but nothing to alter profits/transaction equation the company has worked hard to build over the past 10 years. Preserving this strategy, while still committing to the LT TSR demonstrates the durability of the portfolio/model and, at <16x our CY25E EPS (~1.5x below the 10-yr average), offers investors an attractive entry point into the share leader (~4.2%) within the highly fragmented US full-service category."

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