Darden Restaurants (DRI) Tops Q4 EPS by 15c; Plans to Spin Real Estate Assets
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Piper Jaffray Raises Price Target on Darden Restaurants (DRI) Following 4Q15 Results
June 24, 2015 9:32 AM EDTPiper Jaffray reiterates a Neutral rating on Darden Restaurants (NYSE: DRI), and raised the price target to $66.00 (from $60.00), following its 4Q15 results. Operating EPS of $1.08 per share came in ahead of consensus expectations of $0.93.
Analyst Nicole Regan commented, "Darden recently reported 4Q15 results that... More
RBC Capital Raises Price Target on Darden Restaurants (DRI) Based on Fundamentals and Likely Value From REIT
June 24, 2015 7:12 AM EDTRBC Capital reiterates a Sector Perform rating on Darden Restaurants (NYSE: DRI), and raised the price target to $74.00 (from $70.00), to reflect improved fundamentals and likely value from the separation of the company's real estate portfolio into a REIT. Analyst David Palmer believes that McDonalds and... More
Darden Restaurants (DRI) Plans to Spin Certain Real Estate Assets, Will form New REIT
June 23, 2015 7:05 AM EDTDarden Restaurants (NYSE: DRI) announced that its Board of Directors approved a strategic real estate plan to pursue a separation of a portion of the Company's real estate assets. The separation would be achieved through a combination of selected sale leaseback transactions and the transfer of a portion of its remaining real estate assets to a new real estate investment trust ("REIT") that will be separated by a spin-off, split-off or similar transaction, resulting in the REIT becoming an independent, publicly-traded company (the "REIT Transaction").
The Company's Board reached this decision after considering various... More
