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ARMK

Aramark

$39.93

0.22 (0.55%)

07:10
08/23/19
08/23
07:10
08/23/19
07:10

Aramark initiated with an Outperform at Oppenheimer, $50 price target

Oppenheimer analyst Ian Zaffino started Aramark with an Outperform rating and $50 price target. In a research note to investors, Zaffino says he believes Aramark represents an "interesting" investment opportunity, as it now has the necessary scale to optimize revenues and margins, and delever the balance sheet. The analyst says Aramark also also an opportunity to streamline the portfolio -- a sale of Uniform and/or International -- and use the proceeds to delever, pursue larger M&A and ultimately entertain the company's third LBO in 35 years.

ARMK Aramark
$39.93

0.22 (0.55%)

08/19/19
STFL
08/19/19
UPGRADE
Target $49
STFL
Buy
Stifel upgrades Aramark to Buy, says activist changes story 'materially'
As previously reported, Stifel analyst Shlomo Rosenbaum upgraded Aramark to Buy from Hold after activist fund Mantle Ridge disclosed on Friday night that it has built a 9.8% stake in the shares and a total economic interest of 20% including derivatives. Mantle Ridge CEO Paul Hilal has a track record of success and his involvement "changes the picture materially" for Aramark, argues Rosenbaum, who expects the activist to install a "first-class management team" and increase operational efficiency. He raised his price target on Aramark shares to $49 from $36.
08/19/19
08/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Aramark (ARMK) upgraded to Buy from Neutral at Nomura Instinet and to Buy from Hold at Stifel. 2. Sonos (SONO) upgraded to Strong Buy from Outperform at Raymond James with analyst Adam Tindle saying he sees a "free option" on Sonos' product roadmap over the next few quarters as the company scales beyond its existing markets. 3. Deckers Brands (DECK) upgraded to Buy from Hold at Pivotal Research with analyst Mitch Kummetz saying there are now early indications that October/November weather could be favorable, which would suggest potential upside to Deckers' FY20 sales and gross margin guidance, adding that he continues to like what's happening with Hoka as brand momentum remains strong through the first half of the second quarter, with this being another source of potential upside to the year. 4. Aecom (ACM) double upgraded to Overweight from Equal Weight at Barclays with analyst Adam Seiden saying the company has among the lowest exposure to trade in his coverage and also has "an activist put." 5. ON Semiconductor (ON) double upgraded to Strong Buy from Market Perform at Raymond James with analyst Chris Caso citing reset expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/19/19
BARD
08/19/19
NO CHANGE
Target $44
BARD
Neutral
Aramark price target raised to $44, named Fresh Pick at Baird
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.
08/22/19
OPCO
08/22/19
INITIATION
Target $50
OPCO
Outperform
Aramark initiated with an Outperform at Oppenheimer
Oppenheimer analyst Ian Zaffino started Aramark with an Outperform rating and $50 price target.

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XBIO

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PHG

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NBSE

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KDMN

Kadmon

$2.80

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KDMN

Kadmon

$2.80

-0.015 (-0.53%)

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RTN

Raytheon

$198.82

1.22 (0.62%)

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