Cintas (CTAS) Price Target Ratcheted Higher at Jefferies

Jefferies analyst Dan Dolev reiterated a Buy rating on Cintas (NASDAQ: CTAS) and boosted his price target from $58 to $69 following recent Q3 results.

Dolev comments, "On Wednesday evening, CTAS reported F3Q14 results. Inclement weather, little economic momentum and lumpy direct sales were balanced with strong cross selling and improved efficiency, which helped Rental GM grow +190bps. Management would not admit to this, but the JV with Shred-it is a strong preemptive move aimed at minimizing future secular pressures. Employment driven margin improvement remains the key catalyst for CTAS. BUY, increase PT to $69 (from $58)."

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 $60.59 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Adobe (ADBE) PT Lowered to $225 at UBS Amid Plans to Pivot to Freemium Model
• Rackspace Technology Inc. (RXT) PT Raised to $5.50 at UBS
• Marvell (MRVL) PT Raised to $345 at B.Riley, bullish on new CEO