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Fly News Breaks for August 27, 2019
ARMK
Aug 27, 2019 | 05:30 EDT
Stifel analyst Shlomo Rosenbaum views the departure of Aramark CEO Eric Foss as a direct result of Mantle Ridge's involvement. The analyst expects Mantle Ridge to seek board representation and demand the installation of a very operationally focused CEO. Mantle will likely undertake a multi-year effort at Aramark, with the focus of bringing significant long-term value creation to the operations of the business, Rosenbaum tells investors in a research note. He keeps a Buy rating on Aramark shares with a $49 price target.
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