Cintas (CTAS) PT Raised to $400 at Jefferies on Upside from Healthcare Focus

Jefferies analyst Hamzah Mazari raised the price target on Cintas (NASDAQ: CTAS) to $400.00 (from $365.00) after conducting proprietary survey work and a deep-dive bottom-up hospital-based employee analysis. The resulting data indicates that healthcare alone could be ~$63/ share of upside longer term if the company can execute.

The analyst maintained a Buy rating, stating "We think the company's increased focus on healthcare (increased marketing spend on healthcare, creation of dedicated sales force) sets them up nicely to go after what now looks like a much larger opportunity in rental conversion given Americans' increased focus on sanitization / personal hygiene, not to mention public outcry recently towards healthcare workers wearing scrubs out in public (i.e. people who own their scrubs bring them home)".

You May Also Be Interested In

• Jefferies upgrades Five Below to Buy, sees path to TJX-like re-rating
• Petronet LNG Ltd. (PLNG:IN) PT Raised to INR310 at ICICI Securities
• Calian Group Ltd (CGY:CN) (CLNFF) PT Raised to Cdn$109 at Desjardins