DRI Is A Sell

(Click on image to enlarge)

Darden Restaurants (DRI) – the owner of the Olive Tree and other popular middle-class chains – reports earnings Friday morning. The stock has had a great run over the last six months but I think it’s time to sell. As inflation and economic weakness squeeze consumers – especially middle-class ones – they are likely to eat out less. In addition, DRI is a little expensive after its big run at 19x FY23 guidance of $7.40-$8.00. I’d take profits – or even short – ahead of earnings.

#earnings for the week https://t.co/lObOE0dOhZ $ORCL $ADBE $COUP $UTI $ACN $JBL $DLNG $PLAB $DRI $CNM $LEN $FLNC $PHX $BLBD $JOAN $NOTV $MMMB $WEBR $MESA $APDN $REVG $WGO $BRZE $ABM $RICK $TCOM $CLSK $ASPU $STNG $VNCE $PL $NDSN $NX $ARQQ $IPA $LPTV $LIVE pic.twitter.com/zvSQiZx85V
— Earnings Whispers (@eWhispers) December 10, 2022