Darden Restaurants (DRI) Stock Downgraded at Wells Fargo

Darden Restaurants (DRI) stock rating was lowered to ‘market perform’ from ‘outperform’ at Wells Fargo on Wednesday.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Darden Restaurants (DRI) - Get Report stock rating was cut to "market perform" from "outperform" at Wells Fargo on Wednesday, the Fly reports.

The firm also reduced its price target range on shares to $66 to $70 from $70 to $74.

Wells Fargo cited accelerating casual dining unit same-store-sales declines in June, the Fly noted.

Additionally, the firm expects a lower rate of upward earnings per share revisions in coming quarters.

The restaurant company's brands include Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52 and The Capital Grille.

Shares of Darden closed lower by 0.19% to $62.68 on Wednesday.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on the stock.

The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: DRI

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