Positive

From Nasdaq.: 2024-09-23 07:15:00

Darden Restaurant’s stock shows strength with volatile yet positive price action, backed by momentum and a new partnership with Uber set to drive growth nationwide. The initial test at Olive Garden aims to boost delivery services integrated with existing digital infrastructure.

Despite missing revenue estimates, Darden Restaurants saw gains in Q1 results with 42 new stores, leading to a 1% increase in revenue year over year. Long Horn Steakhouse outperformed other segments, and expectations for growth remain high with plans to close on the Chuy’s acquisition.

Analysts respond positively to Darden’s Q1 report, issuing multiple price target increases. Share repurchases and dividends aid the stock price advance, reflecting solid financial performance. The company’s healthy balance sheet and strong capital returns signal continued potential for growth and value for investors.

Darden Restaurants’ stock price is poised for a breakout, nearing a significant technical advance to surpass all-time highs. A confirmed resistance-turned-support level could lead to a substantial rally, potentially reaching a target price of $205. High trading volume and positive market sentiment support this optimistic outlook.



Read more at Nasdaq.:: Darden Restaurants Is on the Verge of a Significant Breakout