Fly News Breaks for June 20, 2019
Jun 20, 2019 | 08:34 EDT
William Blair analyst Tim Mulrooney says that while he expects Cintas to outperform the broader market over the long term, the stock's near-term upside will be limited as fiscal 2020 consensus figures "appear aggressive." Further, some uniform rental customers are likely under pressure from trade-related issues while May payroll growth was "underwhelming," Mulrooney tells investors in a research note. The analyst keeps an Outperform rating on Cintas but is cautious on the company's fiscal 2020 guidance and notes the stock's valuation is near its all-time high.
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