Darden Restaurants (DRI) NewsBite - Deutsche Securities Starts DRI at Hold

Posted: Tuesday, October 27, 2009 1:44 PM EDT

Darden Restaurants (NYSE: DRI) opened at $31.37. So far today, the stock has hit a low of $30.55 and a high of $31.49. DRI is now trading at $30.63, down $0.76 (-2.42%). Over the last 52 weeks the stock has ranged from a low of $13.21 to a high of $41.21. Deutsche Securities initiated coverage on DRI this morning, starting the stock at Hold with a $30 price target. Technical indicators for the stock are bearish and S&P gives DRI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on DRI the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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