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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTAS:
- Cintas raises FY24 adjusted EPS view to $14.80-$15.00 from $14.35-$14.65
- Cintas reports Q3 EPS $3.84, consensus $3.58
- Options Volatility and Implied Earnings Moves Today, March 27, 2024
- Notable companies reporting before tomorrow’s open
- Options Volatility and Implied Earnings Moves This Week, March 26 – March 28, 2024