RBC Capital keeps an Outperform rating and $525 price target on Cintas ahead of the company’s Q2 earnings report. The company’s uniform rental and facility services growth could likely moderate to about 7% due to pricing normalization and economic slowdown, but these should be partially offset by diversified end market exposure, cross-sell, and new wins driven by the solid execution, the analyst tells investors in a research note. Direct sales revenue at Cintas is also likely to remain under pressure due to the tough comps, the firm added.
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