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TheStreet Open House

Jim Cramer's Mad Dash: Darden Restaurants Can Move Higher

NEW YORK (TheStreet) -- Shares of Darden Restaurants (DRI) are moving higher after CEO Clarence Otis announced he will step down from his position. 

On March 26th, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said that if Otis did indeed step down, the stock would move higher. 

Read More: Twitter Earnings Preview: What Wall Street's Saying

He stuck to that call on CNBC's"Cramer's Mad Dash" segment, arguing that shares could now move toward $50. 

The Red Lobster spinoff is also complete, and the company can focus on improving the Olive Garden brand. 

"Don't rule anything out," Cramer said. Darden Restaurants can make a comeback, he added.

--- Written by Bret Kenwell in Petoskey, Mich.

Read More: United Airlines' Results Impress Wall Street, but Pilots are Doubtful

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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