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If Downgrade Pushes Darden to This Level, Pro Trader Says Buy

On Friday the Fast Money traders were closely wathcing the decline in Darden as investors hit the sell button after Morgan Stanley downgraded shares to equal weight, citing weakness within one of its most popular restaurants, the Olive Garden.

How should you trade it?

"I like Darden and if the Morgan downgrades pushes the stock to about $45, I’d buy in," says Jon Najarian. "I think the company is extremely well run and I like the stock for its dividend yield of about 4%."


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Trader disclosure: On Nov 18, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Weiss owns KO; Weiss owns HPQ; Weiss owns RIMM; Weiss owns EUO; Weiss owns WLP; Karabell owns AAPL; Karabell owns MS; Karabell owns IBM; Grasso owns AKS; Grasso owns AMR; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU

For Rebecca Patterson
No disclosures

For Mary Ann Bartels
No disclosures

For Zach Karabell
Rivertwice has short puts AMZN
Rivertwice is short XLF
Rivertwice is short SMH
Rivertwice owns IBM
Rivertwice is short EK

For Efraim Levy
I have no affiliation with any company I am speaking about in this interview.

I have no ownership interest in any company I am speaking about in this interview.

S&P Capital IQ’s other affiliates may provide services to the companies that are the subject of my report.

For David Shove
As to each company covered on this website, the analyst hereby certifies that the views expressed accurately reflect the analyst’s personal views about the subject securities or issuers. Each analyst also certifies that no part of the analyst’s compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.

Analysts employed by BMO Nesbitt Burns Inc. and/or BMO Capital Markets Ltd. are not registered as research analysts with FINRA. These analysts may not be associated persons of BMO Capital Markets Corp. and therefore may not be subject to the NASD Rule 2711 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.


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