UniFirst price target lowered to $185 from $190 at Baird

Baird analyst Andrew Wittmann lowered the firm’s price target on UniFirst to $185 from $190 and keeps an Outperform rating on the shares. The firm said the quarter was good with margins positively surprising, though still down year-over-year. Guidance largely met low expectations and they continue to believe positive margin surprises off a low base are more-likely-than-not.