UBS analyst Joshua Chan raised the firm’s price target on Cintas to $790 from $680 and keeps a Buy rating on the shares. Cintas reported strong Q3 results against a favorable demand backdrop, with margin strength the highlight of the quarter, supported by volume leverage, structural efficiencies, and mix, the analyst tells investors in a research note. The firm believes risk/reward remains favorable with continued margin expansion supporting the multiple.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTAS:
- 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
- CTAS Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Cintas has acquired Paris Uniform Services, no terms