Aramark price target lowered to $31 from $35 at BofA

BofA lowered the firm’s price target on Aramark to $31 from $35 and keeps a Buy rating on the shares. The firm thinks Aramark’s stock weakness post the company’s fiscal Q4 print was a reaction to a softer than expected margin outlook as bullish investors had hoped management would guide margins low, but under the premise that there was upside, while Aramark instead qualified its guidance as “rational.” Management remains focused on balancing sales and margins expansion for the long-term health of the business and the firm thinks “this is the right approach,” the analyst tells investors.