However, the company's Olive Garden unit reported a same-store sale gain of 1.9 percent, which was short of the 2.0 percent the analyst was expecting and short of the consensus estimate of 2.8 percent. But despite a same-store sale miss, the company reaffirmed its status as a "sustained out-performer in a difficult restaurant environment."
Yet despite another positive top-line result, the stock's multiple isn't particularly attractive, Slabaugh commented. The company's status as an outperformer is already reflected in at 9.7x 2018E adjusted EBITDA and investors looking to buy the stock are better off waiting for a better entry point.
Slabaugh maintains an Equal-Weight rating on Darden's stock with an unchanged $95 price target. Related Links: Earnings Scheduled For September 26, 2017 8 Stocks To Watch For September 26, 2017© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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