Cintas price target lowered to $213 from $236 at Goldman Sachs

Goldman Sachs analyst George Tong lowered the firm’s price target on Cintas (CTAS) to $213 from $236 and keeps a Buy rating on the shares. The company reported healthy Q3 results with revenue in line with pre-announcement two weeks earlier, the analyst tells investors in a research note. Cintas continues to generate robust high-single-digit organic revenue growth driven by its ability to retain customers at record levels, penetrate the large no-programmer market and cross-sell additional solutions to existing customers, the firm adds, noting however that its price target cut is due to a lower assumed earnings multiple to reflect increased macro and geopolitical uncertainty.