UBS Downgrades Darden Restaurants (DRI)
UBS reported on Friday that they have downgraded restaurant company, Darden Restaurants, Inc.(DRI).
The firm has downgraded DRI from “Buy” to “Neutral”, and has given the company a $47 price target. This price target suggests that the stock remain flat from its current price of $46.27.
Analysts have lowered their rating of the company based on higher bonus payments and the margin impact of a larger amount of low priced promotions offered to customers.
Darden shares were mostly flat during premarket trading Friday. The stock has dropped -6% in the past year.
The Bottom Line
Shares of Darden Restaurants, Inc.(DRI) have a 4.32% yield, based on Thursday’s closing price of $46.27.
Darden Restaurants, Inc.(DRI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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