- JPMorgan analyst Andrew Steinerman downgraded UniFirst Corp UNF to Underweight from Neutral, reflecting on the Q2 EPS miss and mixed FY22 outlook.
- The analyst also lowered the price target to $178 (a downside of 1.4%) from $200.
- The analyst notes management's dim visibility into cost and margin headwinds and the company's financial performance amid the current macro environment for the downgrade.
- UniFirst reduced its FY22 Adjusted EPS outlook to $6.80 - $7.00, missing the consensus of $7.18. Meanwhile, the company raised its revenue forecast to $1.967 billion - $1.980 billion, above the consensus of $1.95 billion.
- Price Action: UNF shares are trading lower by 1.42% at $181.67 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
