Cintas upgraded to Conviction Buy from Buy at Goldman Sachs

Goldman Sachs added Cintas to the firm’s Conviction List and keeps a Buy rating on the shares with a $592 price target. The company’s organic growth has structurally reset higher than pre-Covid levels, rising to 7%-8% from 6%-7% previously, driven by volumes and an expanded opportunity in delivering uniforms into the healthcare vertical as well as ongoing penetration of the unvended market, the analyst tells investors in a research note.