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Fly News Breaks for February 10, 2020
ARMK
Feb 10, 2020 | 06:31 EDT
Citi analyst James Ainley on Friday initiated coverage of Aramark with a Sell rating and $39 price target. The stock is up almost 50% from the lows on hopes that new management will deliver stronger revenue growth, Ainley told investors in a research note. While this is possible, experience from Sodexo suggests that sector turnarounds take time, contends the analyst. As such, he see short-term risks to Aramark shares around higher capital expenditures and lower margins.
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