Cintas downgraded to Neutral from Buy at Citi

Citi analyst Leo Carrington downgraded Cintas to Neutral from Buy with a price target of $550, up from $540. Industry dynamics, company fundamentals and earnings growth prospects for Cintas remains strong, the analyst tells investors in a research note. However, with only 8% expected total return implied by Citi’s new target price, the firm downgrades the shares. The stock’s valuation suggests limited upside from current share levels, the analyst tells investors in a research note.