Full-service restaurant chain operator Darden Restaurants, Inc. (DRI) on Monday caught some further bullish commentary from analysts at Bank of America/Merrill Lynch.
The firm said it added DRI to its prestigious “US 1″ List with a $62 price target, suggesting a 25% upside to the stock’s Friday closing price of $49.76. Bank of America/Merrill Lynch noted that the company’s improved earnings visibility should help boost its valuation in coming quarters.
Darden shares were unchanged in premarket trading Monday.
The Bottom Line
Shares of Darden Restaurants (DRI) have a 3.46% dividend yield, based on Friday’s closing stock price of $49.76. The stock has technical support in the $46-$48 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.
Darden Restaurants, Inc. (DRI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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