Aramark price target lowered to $39 from $43 at Baird

Baird analyst Andrew Wittmann lowered the firm’s price target on Aramark to $39 from $43 and keeps a Neutral rating on the shares. The analyst noted recent commentary reflects macro concerns, but also ongoing inflationary pressure, which looks to linger in F1H23. Baird cut its estimates accordingly and said margin progression is the greater focus for investors following top-line gains from COVID-recovery, "record" pricing and solid new business wins.