Cintas price target raised to $660 from $645 at Truist

Truist raised the firm’s price target on Cintas to $660 from $645 and keeps a Buy rating on the shares. The company’s superior operations support competitive advantage vs. its smaller peers, while its building additional route density can drive long-term operating margins to 30%, the analyst tells investors in a research note. The stock’s valuation is relatively rich, but a premium multiple is merited relative to the route-based peer group due to high recurring revenue mix and an “impressive revenue retention”, Truist added.