Goldman Sachs downgraded Vestis (VSTS) to Sell from Neutral with a price target of $5.30, down from $6.30. The firm says the company’s revenue growth turnaround will be constrained by customer service quality issues that are difficult to remediate. In addition, Vestis has limited pricing power in its business, with pricing up just 0%-1% year-over-year in recent quarters given service quality issues, the analyst tells investors in a research note.
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