Darden Restaurants (DRI) stock surged 5.01% in Monday's pre-market trading session following a series of analyst upgrades and price target increases. The parent company of popular restaurant chains such as Olive Garden and LongHorn Steakhouse has caught the attention of Wall Street, with several firms expressing optimism about its future performance.
JP Morgan led the charge by significantly raising its price target for Darden from $186 to $218, maintaining an overweight rating on the stock. This move was followed by Guggenheim, which increased its target from $205 to $220, and Stephens, which bumped its target from $175 to $178. The wave of positive sentiment from analysts appears to be the primary driver behind the stock's pre-market rally.
The average analyst rating for Darden Restaurants remains overweight, with a mean price target of $212.26, according to FactSet data. This collective bullish stance from Wall Street analysts suggests growing confidence in Darden's business model and future prospects, potentially driven by factors such as strong operational performance, successful menu innovations, or positive industry trends in the casual dining sector.
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