UPDATE: J.P. Morgan Upgrades Cintas; Raises PT

According to a research report published earlier today, J.P. Morgan has upgraded Cintas Corp. CTAS from Neutral to Overweight, and increased PT from $34 to $45. In the report, J.P. Morgan commented, “On Wednesday, we toured a Cintas facility in Newark, NJ, and spent time with Cintas management. During the great recession, Cintas actively pursued initiatives to enhance salesforce productivity, optimize routes, and control costs. Given the benefits we are seeing from these efficiency initiatives and investments, we believe Cintas is better positioned to more than offset the rising merchandise amortization stream than we had previously recognized.” Cintas closed yesterday at $38.02.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsJ.P. Morgan
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!