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Fly News Breaks for July 17, 2019
CTAS
Jul 17, 2019 | 08:59 EDT
RBC Capital analyst Seth Weber raised his price target on Cintas to $267 and kept his Outperform rating after its Q4 earnings beat, saying the company's "growth engine" continues "chugging". The analyst believes that the positive momentum at Cintas will continue as the company is positioned well to benefit from an "elevated" employment environment that features a mid-90% retention rate. Weber further cites Cintas management expectations of a "healthy" core organic uniform revenue growth, adding that the ongoing ERP implementation should give the company the cash flow with options for acquisitions, dividend increases, and stock buybacks.
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