Darden price target raised to $245 from $230 at KeyBanc

KeyBanc raised the firm’s price target on Darden (DRI) to $245 from $230 and keeps an Overweight rating on the shares. Darden reported featured better than expected Q4 EPS and same-store sales trends as both Olive Garden and LongHorn widened their SSS growth gap vs. the casual dining industry relative to the prior period, with the outperformance helped by a strong consumer response to the company’s marketing programs, including the “Buy One, Take One” offer at Olive Garden and a modest contribution from its Uber Direct (UBER) partnership, the analyst tells investors in a research note. The firm believes the potential acceleration in unit growth and modestly higher expected SSS growth justifies a higher valuation.