Barclays downgraded UniFirst (UNF) to Underweight from Equal Weight with a price target of $152, down from $180. The company’s results reinforced the view of its “long road ahead as a standalone company.” This is even before tariffs impacts that risk a recession and can hurt the company’s supply chain, the analyst tells investors in a research note. Barclays believes this warrants the removal of any acquisition premium that has been in the shares.
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