Baird lowered the firm’s price target on Cintas (CTAS) to $200 from $209 and keeps a Neutral rating on the shares. The firm is “more constructive” on the shares after 9% selloff tied to a modest reduction to the company’s organic growth outlook. Cintas’ “big multiple” requires sales strength, but the selloff overlooks the company’s “exceptional” margin performance, elevated acquisiotn activity adding growth and synergy potential, and less expensive valuation, the analyst tells investors in a research note.
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Read More on CTAS:
- Cintas Reports Strong Q2 Growth and Dividend Increase
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- Morning Movers: Lamb Weston tanks after second quarter results and CEO change
- Cintas raises FY25 EPS view to $4.28-$4.34 from $4.17-$4.25, consensus $4.24
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
