Miller Tabak Raises Price Target on Darden Restaurants; Sees 10% Upside (DRI)

Miller Tabak Raises Price Target on Darden Restaurants; Sees 10% Upside (DRI)

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Late on Monday, analysts at Miller Tabak boosted the price target on Darden Restaurants, Inc. (DRI). The analysts expect the casual restaurant operator to see sales that will exceed those of its competitors.

The analysts maintain a “Buy” rating on DRI and now see shares reaching $59, up from the previous target of $54. This new price target suggests a 10% upside to Monday’s closing price of $53.45.

A Miller Tabak analyst commented, “As we expect DRI to continue its value focus, we anticipate above-peer traffic growth in the next few quarters.”

Darden shares were down a fraction during pre-market trading on Tuesday. The stock is up +18.59% year-to-date.

The Bottom Line
Shares of Darden Restaurants (DRI) have a dividend yield of 3.74% based on last night’s closing price of $53.45 and the company’s annualized dividend payout of $2.00 per share.

Darden Restaurants, Inc. (DRI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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