Raymond James raised the firm’s price target on Darden (DRI) to $210 from $200 and keeps an Outperform rating on the shares. Raymond James is entering 2025 incrementally optimistic that restaurant industry demand trends could firm relative to weaker trends in 2024, and though limited service seemed to end on a softer note in late 2024, the firm was encouraged to see full service comparable traffic improve in Q4 after nearly two years of unusually soft traffic, the analyst tells investors in a research note. Industry inflation outlook seems manageable in 2025 with most companies expecting low single digit commodity inflation and low-to-mid single digit wage inflation, following a year of better wage inflation and lower turnover for most restaurants in 2024, the firm says.
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