Aramark price target raised to $37 from $35 at Truist

Truist raised the firm’s price target on Aramark to $37 from $35 and keeps a Buy rating on the shares after hosting investor meetings with its management. The key takeaways from the discussion were the company’s elevated outsourcing activity that is fueling its “robust sales pipeline” and its FY24 organic growth guidance of 8% looking “highly conservative” given its minimal assumed base growt, the analyst tells investors in a research note.