Truist analyst Jasper Bibb raised the firm’s price target on Cintas to $775 from $660 and keeps a Buy rating on the shares. The analyst cites the company’s “strong” Q3 results and raised guidance in spice of the unplanned operating margin headwind from a legal settlement. Outsized margin gains at Cintas should be sustainable over the next 2-3 years, with drivers that include digital initiatives, maturation of the First Aid/Fire business, cross-sell opportunities, and moderating expense inflation, the firm tells investors in a research note.
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