Darden price target raised to $164 from $159 at Stephens

Stephens analyst Jim Salera raised the firm’s price target on Darden (DRI) to $164 from $159 and keeps an Equal Weight rating on the shares. Darden reported Q1 results that included softer-than-expected same-store sales, restaurant margins, and adjusted EPS, but shares reacted positivity post-print, driven by commentary around a new delivery partnership with Uber (UBER), improved quarter-to-date trends, and a reiteration of FY25 guidance, the analyst noted. The firm remains constructive on the company’s operational execution capabilities and margin management, but believes the average multiple fairly values shares given “a tougher macro for top-line yet operational prowess on the bottom-line,” the analyst tells investors.