Cintas price target raised to $645 from $525 at RBC Capital

RBC Capital raised the firm’s price target on Cintas to $645 from $525 and keeps an Outperform rating on the shares. The company’s broad-based top-line growth and robust margin expansion drove its Q2 earnings beat, the analyst tells investors in a research note. Despite the broader macro concerns, Cintas continues to deliver robust volume growth by cross-selling into the existing customer base and delivering new wins through solid execution and strategic focus, the firm added.