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In a report published Wednesday, Credit Suisse analyst Flavio S. Campos initiated coverage on
AramarkARMK with an Outperform rating and $32.00 price target.
In the report, Credit Suisse noted, “ARMK is a leading global food and support services business that also provides uniform and career apparel. Our $32 target price is based on our sum-of-the-parts valuation. We use a ~10.2x multiple on our Food and Support Services (FSS) segment EBITDA estimate of ~$1.1bn and an ~8.4x multiple on our Uniform segment EBITDA estimate of ~$260mm.”
Aramark closed on Tuesday at $26.30.
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