RBC Capital Hikes Cintas Price Target By 5% Ahead Of Q2 Results

November 30, 2021 12:58 PM | 1 min read |

RBC Capital analyst Ashish Sabadra raised the Cintas Corp CTAS price target to $475 (an upside of 11.7%) from $450 and maintained an Outperform rating on the shares ahead of its Q2 results.
Sabadra says the company should report an in-line quarter and reiterate guidance, while its revenue growth should continue to improve on a two-year stack driven by pricing increases, improved sales rep productivity, cross-selling to existing customers, and lower PPE headwinds.
He further adds that the reopening benefits, particularly in the Hospitality & Healthcare verticals and Canadian business, bode well for Cintas' growth.
Price Action: CTAS shares are trading lower by 2.07% at $425.75 on the last check Tuesday.