Cintas price target raised to $523 from $513 at BofA

BofA analyst Heather Balsky raised the firm’s price target on Cintas to $523 from $513 and keeps a Neutral rating on the shares despite what the firm calls a "good quarter" and "another" beat and raise. Given ongoing recession risk and valuation at "elevated levels," BofA doesn’t expect material multiple expansion for Cintas in the near-term.