Thursday December 20, 05:42 PM
Darden Restaurants upgraded to "outperform"
NEW YORK, December 20 (newratings.com) - Analysts at Morgan Keegan upgrade Darden Restaurants Inc (ticker: DRI) from "market perform" to "outperform," while reducing their estimates for the company.
In a research note published this morning, the
analysts mention that the upgrade in the rating is based on valuation, since the company's share price has declined by 21% yesterday. The same-store sales (SSS) Darden Restaurants (NYSE: DRI - news) ' key brands declined sequentially in 2Q, coming in lower than the estimates, the analysts say. The EPS estimates for FY08 and FY09 have been reduced from $2.88 to $2.73 and from $3.20 to $3.05, respectively.
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