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Fly News Breaks for November 19, 2018
CTAS
Nov 19, 2018 | 16:58 EDT
RBC Capital analyst Seth Weber initiated Cintas with an Outperform rating and a price target of $215. The analyst cites the company's position as a "leader in uniform/garment rental and facility services such as floor care, restroom supplies, first aid & safety products", serving over 1M customers along 11K routes. Weber states that the consensus view on the stock is at a Hold based on its valuation and its ties to cyclical job growth, but believes that Cintas can outperform even in the environment of moderating job growth. The analyst also notes that the recent 14% decline in the stock price creates an attractive entry opportunity.
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