Aramark price target lowered to $33 from $45 at Stifel

Stifel lowered the firm’s price target on Aramark (ARMK) to $33 from $45 and keeps a Buy rating on the shares the firm is adjusting its model to reflect the FSS businesses as the sole Aramark business post the Vestis (VSTS) spinoff and ahead of Aramarks’ scheduled earnings next week. The firm’s EPS estimates for FY24 and FY25 post the spin off are $1.59 and $2.04, respectively.