Darden Restaurants: Full-Service Restaurant Chain Gaining Market Shares – BofA Sees 30% Chance!

Darden Restaurants (DRI) is one of the largest operators of full-service restaurants in the U.S. with over 2,100 locations. The company relies on a diversified portfolio of established brands such as Olive Garden, LongHorn Steakhouse, Yard House, and Cheddar’s Scratch Kitchen, which recorded strong performance in the most recent Q3, contributing to a same-store sales growth of 4.2%, exceeding the industry average by 540 basis points. On March 23, BofA analysts raised the price target from $262 to $272 (Buy), as the growth expectations for comparable...