Since its $0.06 earnings beat, our first idea today—a restaurant chain—has seen its earnings estimates upgraded by 31 analysts. Our second recommendation is a short sale of a company that is being weighed down by COVID-19.
Darden Restaurants, Inc. (DRI)
From Shortex Market Letter
Darden Restaurants
52wk H. 124.01 52wk L. 26.15
Mkt Cap:$13.11B, EPS: -0.43, Beta: 1.34
DIV/YLD: 1.20(1.19%)
The restaurant chain is the owner of Olive Garden, Capital Grill, and LongHorn Steakhouse, to name a few. DRI’s earnings report signaling improved recovery the basis for reinstating a dividend. Has been trading in death cross mode since March ’20 reversal rocketed its exits in recent sessions: (75-81) to (83-89) to (90-96) to a high of 101. Volatile.
BUYING RANGE: 92-105
NR TERM OBJ: 121
INTERMED OBJ: 146
STOP LOSS: 83
Joseph Parnes, Shortex Market Letter, shortex.com, 800-877-6555, October 1, 2020