Citi Downgrades G&K Services (GKSR) to Hold
More News related to GKSR
- G&K Services (GKSR) Announces Further Job Cuts from North American Workforce
- G&K Services Announces Further Expense Reductions to Address Continued Weak Economic Conditions
- G&K Services Receives Fifth Consecutive "50 Best Employers" Award in Canada
- J.P. Morgan Initiates Coverage on G&K Services (GKSR) with an Underweight
- G&K Services to Present at Upcoming J.P. Morgan Investor Conference
More News related to Downgrades
- Banc of America/Merrill Lynch Downgraded a Number of Airlines (CAL, LCC, LUV, more)
- Morgan Stanley Downgrades Stryker (SYK) to Underweight
- Collins Stewart Downgrades Thoratec (THOR) to Hold
- Citi Downgrades Gap Inc (GPS) to Hold
- Merrill Lynch Downgrades Limited Brands Inc. (LTD) to Underperform
Citi downgrades G&K Services Inc (Nasdaq: GKSR) from Buy to Hold. Price target lowered from $42 to $30.
Citi analyst says, "Tough economic conditions and some one-time items led GKSR to preannounce negative results for its fiscal 1Q09 earnings. Not much seems to be going right at the moment, and there is little reason to own the stock outside of valuation, which isn't working as a catalyst in this market...The company's generous cash valuation (~10% CY09 FCF yield) is the key reason we are not more negative on shares."
G&K Services, Inc. is a provider of branded identity apparel and facility services programs.
Related Categories
DowngradesStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
