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Upgrade Alert for Darden Restaurants (DRI)

By Amy Schwartz

Darden Restaurants (NYSE:DRI) was upgraded from Neutral to Overweight at Piper Jaffray today. The stock closed yesterday at $63.90 on volume of 2.7 million shares, above average daily volume of 2.0 million.

There is potential upside of 0.8% for shares of Darden Restaurants based on a current price of $63.90 and an average consensus analyst price target of $64.44. The stock should find initial resistance at its 200-day moving average (MA) of $64.57 and further resistance at its 50-day MA of $65.14.

Darden Restaurants, Inc. operates casual dining restaurants in North America. The Company owns and operates seafood and Italian restaurants.

Over the past year, Darden Restaurants has traded in a range of $53.38 to $75.60 and closed yesterday at $63.90, 20% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.3%.

SmarTrend is monitoring the recent change of momentum in Darden Restaurants. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Darden Restaurants in search of a potential trend change.

Keywords: analyst upgrades/downgrades Darden Restaurants

Ticker(s): DRI