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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CTAS:
- Options Volatility and Implied Earnings Moves This Week, December 18 – December 21, 2023
- Cintas downgraded to Hold from Buy at Deutsche Bank on valuation
- Deutsche Bank gets more bearish on Cintas, downgrades shares
- Cintas price target raised to $630 from $550 at Barclays
- Cintas price target raised to $630 from $560 at BofA
