Truist Boosts Darden Price Target Ahead of Earnings, Expects Strong 2026 Outlook

Truist Securities raised its price target on Darden Restaurants (NYSE:DRI) to $252 from $230 while reiterating a Buy rating, expressing confidence in the company's upcoming fourth-quarter results and fiscal 2026 guidance.

With shares already up over 20% year-to-date—far outpacing the broader market—Truist believes a strong earnings beat and upbeat forward guidance are partially priced in, but still see room for upside. The firm’s proprietary card data suggests Olive Garden same-store sales rose 6.5% in the fourth quarter, topping both the consensus estimate of 4.5% and investor expectations in the 5–6% range.

Looking ahead to fiscal 2026, Truist expects Darden’s guidance to come in above its long-term framework, supported by ongoing sales momentum, expanded delivery adoption, and the benefit of an additional operating week. While the company is likely to maintain its long-term target of a 10–15% total shareholder return, the mix is expected to shift toward new store development rather than margin expansion.

Truist has increased its earnings estimates in line with these trends, resulting in the upward revision of its price target to $252, reflecting continued strength in both operations and strategy execution.