JPMorgan raised the firm’s price target on Cintas (CTAS) to $640 from $540 and keeps an Overweight rating on the shares. The company reported a fiscal Q2 beat and fiscal 2024 guidance raise, the analyst tells investors in a research note. The firm continues to see possibilities where Cintas’ guidance proves conservative, especially given its “strong” balance sheet and “robust” free cash flow generation. JPMorgan continues to see the stock as a core holding, but prefers Vestis (VSTS) shares at present levels.
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