UPDATE: JP Morgan Raises PT to $50 on Cintas; Revenue Momentum Offsets EPS Miss

Loading...
Loading...
JP Morgan maintained Cintas
CTAS
with an Overweight rating and raised the price target from $47.00 to $50.00. JP Morgan analyst Andrew C. Steinerman commented, "Thursday evening, Cintas reported 3QF13 (Feb) revenues of $1,076mln, ~2% above our estimate, as organic same-day basis (SDB) revenue growth rose to 6.9% y/y (from 3.4% y/y in 2QF13 (Nov)). 3QF13 EPS was $0.60, slightly below our estimate of $0.63. … The new healthcare regulations represent a prospective CY2014 margin headwind, but in a healthy economy CTAS should have high enough top-line growth and operating levers to overcome this headwind, in our view." Cintas closed at $45.93 on Tuesday.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsJP 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!

Loading...