Brokerage RBC Capital Markets raises Cintas' PT on strong margins

Cintas

26/09/2024 14:26

** Brokerage RBC Capital Markets raises PT on uniform rental
firm Cintas Corp  CTAS.O  to $215 from $181
    ** New PT represents 4% premium to stock's last close of
$207.21
    ** Says solid incremental margins helped CTAS deliver upbeat
Q1 profit on Wednesday
    ** Expect CTAS to continue increasing market share by
catering to wide spectrum of business sizes and industries in
long term - brokerage 
    ** Adds robust investments in technology to help maximize
facility efficiency and enhance overall customer experience 
    ** Believes there is significant room for margin expansion
from further usage of automation in business
    ** At least five brokerages raise PT on stock
    ** 7 of 20 brokerages rate stock "buy" or "higher", 10
"hold" and 3 "sell"; median PT is $208.50 - LSEG
    ** As of last close, stock up nearly 38% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))