Barclays Raising Number on Cintas (CTAS), But Reiterates 'Equalweight' as Stock Fairly Valued

Barclays reiterates an 'Equalweight' on Cintas (NASDAQ: CTAS) price target raised from $38 to $40.

Analyst, Gary E. Bisbee, said, "Cintas reported strong F3Q'12 results that easily surpassed our/consensus estimates due to solid revenue growth and stronger than expected margins. The company raised FY'12 EPS guidance modestly, though this was due to the F3Q beat and not higher F4Q expectations. While CTAS continues to deliver strong results, we find the stock approaching fair value."

"We are raising our FY'12-'13 EPS estimates by $0.11/$0.12 to $2.30/$2.60 (+36% and +13% y/y growth)..."

For an analyst ratings summary and ratings history on Cintas click here. For more ratings news on Cintas click here.

Shares of Cintas closed at $40.47 yesterday.

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