Shares are climbing 0.75% to $69.91 in Wednesday's early morning trading session.
This price target increase comes after the Olive Garden parent company posted strong fourth quarter earnings yesterday. It reported net income of $105.3 million, or $1.08 cents per diluted share, on revenue of $1.88 billion.
The company was expected to earn 93 cents per share on revenue of $1.87 billion, according to analysts polled by Thomson Reuters.
"We are pleased with our improved performance during the fourth quarter," CEO Gene Lee said. "The momentum we have built during the second half of the fiscal year gives us confidence that our back-to-basics focus - which is rooted in strong operating fundamentals around food, service and atmosphere - is resonating with our guests.
Darden's improving fundamentals and management's willingness to evaluate all aspects of its business model should continue to drive Darden's turnaround prospects, analysts said.
Separately, TheStreet Ratings team rates DARDEN RESTAURANTS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate DARDEN RESTAURANTS INC (DRI) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."