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September 03, 2013 at 10:03 AM EDT
Sterne Agee Cuts Estimates on Darden Resturants (DRI)

Sterne Agee announced on Tuesday that it has lowered estimates on Darden Restaurants, Inc. (DRI).

The firm has cut its estimates on DRI through 2015 due to weak industry sales. Sterne Agee currently has a “Buy” rating and $55 price target on DRI. This price target suggests a 15% increase from the stock’s current price of $46.68.

Darden shares were mostly flat during Tuesday morning trading. The stock has been mostly flat YTD.

The Bottom Line

Shares of Darden Restaurants, Inc. (DRI) have a 4.71% yield based on Tuesday morning’s price of $46.68.

Darden Restaurants, Inc. (DRI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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