Cintas price target lowered to $228 from $235 at UBS

UBS lowered the firm’s price target on Cintas (CTAS) to $228 from $235 and keeps a Buy rating on the shares. Cintas delivered 8.2% organic growth despite minimal payroll growth, with EPS meeting but not exceeding expectations, potentially due to SG&A timing, the analyst tells investors in a research note. Raised full-year guidance and accelerating EBIT margins, combined with a de-rated multiple, suggest an attractive opportunity relative to long-term value from the pending UniFirst deal.