Vestis initiated with a Buy at Jefferies

Jefferies initiated coverage of Vestis with a Buy rating and $20 price target. Vestis is a leading provider of global uniform and workplace supplies, the analyst tells investors in a research note. As a standalone public company, Vestis has the right team and strategy in place to execute on a proven playbook to drive at least mid-single-digit organic growth annually, as well as greater than 500 basis points of margin expansion over the next five years, says the firm.