Street View: Darden's Uber delivery deal could bring in more customers, analysts say
** Olive Garden owner Darden Restaurants DRI.N said on Thursday it has entered into a deal with Uber Technologies UBER.N, which will allow the ride-hailing platform to handle the Olive Garden app's food deliveries from late 2024
** At least 16 brokerages raise PT on the stock, while Bernstein downgraded the stock and cut its PT after co posts missed Q1 sales, profit
UBER DEAL TO OPEN DOORS TO MORE CUSTOMERS
** J.P.Morgan ("overweight", PT $176) sees an increase of about 3.6% to $200 mln in Olive Garden sales in FY27 from the Uber deal
** BMO Capital Markets ("market perform", PT $175) sees a modest second-half of 2025 benefit to Olive Garden and a low-single-digit lift in FY2026, due to overlap with already sizable drive-thru business and lack of DRI's direct delivery system
** Stephens ("equal weight", PT $164) believes DRI's Italian cuisine is less suited for third-party marketplaces than other categories, including pizza & Wings, but says the partnership with Uber is an opportunity to increase guest frequency
** TD Cowen ("hold", PT $165) sees no impact from the deal in 2025, but says DRI offering more brands in the Uber marketplace is a potential demand-and-sales driver
** Bernstein Societe Generale ("market perform", PT $180) believes the deal will take time to drive results
Reporting by Neil J Kanatt in Bengaluru
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