Baird upgrades Cintas on earnings growth from UniFirst deal

As previously reported, Baird analyst Andrew Wittmann upgraded Cintas (CTAS) to Outperform from Neutral with a price target of $250, up from $225. The stock in late morning trading is up 2% to $200.98. The firm believes the acquisition of UniFirst (UNF) will add several percentage points to Cintas’ earnings growth in the next four years from cost and revenue synergies. The synergies could come in solidly ahead of the public $375M target, the analyst tells investors in a research note. Baird says Cintas’ “state-of-the-art tools” position it well for integration success.