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Darden Restaurants, Inc. (NYSE:DRI) stock is muted after Jefferies downgraded the Olive Garden parent to "underperform" from "hold" and slashed its price target by $30 to $124.
When it comes to companies representing the most upside potential, indicating they are underappreciated, small-cap companies come to mind. These businesses are often valued between $250 million to $2 billion.
Shares of Darden Restaurants and Chuy's Holdings were under pressure ahead of Thursday's open after Jefferies analysts downgraded both companies on worries over footfall concerns.
Smart investors will watch restaurant stocks since the business is estimated to generate over $1 trillion in 2024. The industry is expected to gain 200,000 jobs this year, reaching 15.7 million.
Darden (DRI) intends to enhance its internal digital media capabilities to drive traffic and growth. However, inflationary pressures are a concern.
Darden Restaurants‘ (NYSE: DRI) recent earnings report revealed mixed results, with Olive Garden struggling to grow same-store sales.
Darden Restaurants CEO Rick Cardenas said high prices at fast food restaurants are benefitting casual sit-down restaurants, like his competitors Chili's Grill & Bar and Applebee's.
Popular Italian restaurant chain Olive Garden expects to raise prices "more in line with inflation" moving forward, parent company Darden said in its earnings call this week.
Darden Restaurants, Inc. DRI on Thursday reported better-than-expected results for its fourth quarter.
Olive Garden hasn't been raising prices as much as its rivals — and execs say this is helping it buck industry traffic trends. Its guest counts topped industry benchmarks, even though same-restaurant sales slumped.