Darden price target raised to $230 from $210 at Argus

Argus analyst John Staszak raised the firm’s price target on Darden (DRI) to $230 from $210 and keeps a Buy rating on the shares after its Q3 results. The company’s CEO said that consumers continue to dine out despite feeling less optimistic about the economy, and given the prospects for improving margins and earnings, Darden shares are seen as undervalued at 20.3-times the firm’s FY25 EPS estimate, the analyst tells investors in a research note. Argus adds that it expects Darden to exceed its guidance as it benefits from efforts to expand takeout and delivery orders and simplify its menus.