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Fly News Breaks for August 19, 2019
ARMK
Aug 19, 2019 | 10:27 EDT
Baird analyst Andrew Wittmann raised his price target for Aramark to $44 from $40 following the disclosure by activist Mantle Ridge of an up to 20% beneficial stake. In a research note to investors, Wittman said the narrative/catalyst slate improves materially from here, resulting in a Fresh Pick designation, but said that without greater details on the plan going forward and with the consensus view focused on an "undervalued" uniform rental business potentially exaggerated, he retains a Neutral rating.
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