Baird Upgrades UniFirst To Outperform, Sees Notable Upside

January 6, 2022 2:51 PM | 1 min read | Make a Comment

Baird analyst Andrew Wittmann upgraded UniFirst Corp UNF to Outperform from Neutral and raised the price target to $236 (an upside of 18%), from $215.
The analyst says that disappointing guidance has yielded depressed sentiment, and heavy investment will weigh on earnings for some time, but ultimately, these investments should make UNF much more competitive.
Also, read UniFirst Q1 Results Beat Estimates.
Wittmann believes its relative valuation discount and cash-laden balance sheet could prove important assets in a rising rate environment.
Price Action: UNF shares traded higher by 1.98% at $199.90 on the last check Thursday.