Aramark price target lowered to $43 from $48 at RBC Capital

RBC Capital lowered the firm’s price target on Aramark to $43 from $48 and keeps a Sector Perform rating on the shares. The firm is updating its model to reflect the company’s Vestis spinoff, though it remains positive on the company and expects its “new playbook” to improve its growth, especially given the COVID-19-related headwinds and behavioral change such as hybrid work have diminished. RBC adds however that inflationary pressures, supply chain disruption, and new account startups could weigh on Aramark margins near term.