Vestis price target lowered to $6 from $13 at Stifel

Stifel lowered the firm’s price target on Vestis (VSTS) to $6 from $13 and keeps a Hold rating on the shares. The company continues to struggle with customer service and sales despite the various efforts to improve these areas over the last year, the analyst tells investors. Given the financial leverage of the company and the operating leverage in the business, the firm believes a cyclical downturn resulting in higher U.S. unemployment would be “a material challenge” and thinks the new CEO will “have his work cut out for him trying to turn this business around,” the analyst added.