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Barclays has downgraded UniFirst Corporation to underweight from equal weight, adjusting its price target to $152 from $180. UniFirst specializes in supplying and servicing uniform and workwear programs, with segments including U.S. and Canadian rental and cleaning, manufacturing, specialty garments, and first aid services.
Barclays has downgraded UniFirst Corporation from Equalweight to Underweight, lowering the price target from $180 to $152, citing poor organic growth and slow strategic progress following the company's fiscal Q2 2025 results. Despite a slight revenue increase to $602.2 million, UniFirst missed earnings expectations, prompting skepticism about its future growth targets. The company recently rejected a takeover offer from Cintas, emphasizing its focus on strategic initiatives and operational improvements.
UBS analyst Joshua Chan raised the price target for Cintas shares to $240, maintaining a Buy rating after the company reported a 7.9% reacceleration in organic growth and strong third-quarter results, including an EPS of $1.13. Cintas also increased its annual EPS guidance to $4.36-4.40, reflecting robust operational strength and market confidence. Following these developments, other firms like Truist and Morgan Stanley also adjusted their price targets upward, highlighting Cintas' resilience amid market challenges.
UBS analyst Joshua Chan has raised the price target for Cintas Corporation to €240, maintaining a Buy recommendation, following the company's strong third-quarter results that exceeded expectations. Cintas reported EPS of €1.13 and sales of €2.61 billion, prompting an increase in its full-year EPS guidance to €4.36-4.40. The company's solid performance and improved organic growth signal resilience and confidence in its growth prospects, despite the recent termination of its acquisition attempt for UniFirst Corporation.
American Century Companies Inc. increased its stake in UniFirst by 25.9%, owning 173,315 shares valued at $29.7 million. Envestnet Asset Management and Dimensional Fund Advisors also raised their holdings, with 78.17% of the stock owned by institutional investors. UBS Group raised UniFirst's price target to $235, while analysts maintain a "Hold" rating with a consensus target price of $197.50.
U.S. stock indexes faced pressure as positive economic reports led to rising bond yields, diminishing hopes for further interest rate cuts by the Federal Reserve. The S&P 500 fell 0.3%, with Nvidia dropping 5.1% after a strong product announcement, while Cintas and UniFirst saw significant stock movements due to a proposed acquisition. In international markets, notable Chinese companies declined following their addition to a U.S. Defense Department list linked to military ties.
Shares are on track for four consecutive days of gains, recovering from early December's highs. The Dow Jones fluctuated as Nvidia's stock fell over 5% despite new AI initiatives, while Uber rose 1.3% following a partnership announcement with Nvidia. Unifirst surged 28% after a $5.1 billion takeover offer from Cintas, and Roku, Ulta Beauty, and Snowflake also saw notable stock movements.
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