Cintas price target lowered to $200 from $209 at Baird

Baird lowered the firm’s price target on Cintas (CTAS) to $200 from $209 and keeps a Neutral rating on the shares. The firm is “more constructive” on the shares after 9% selloff tied to a modest reduction to the company’s organic growth outlook. Cintas’ “big multiple” requires sales strength, but the selloff overlooks the company’s “exceptional” margin performance, elevated acquisiotn activity adding growth and synergy potential, and less expensive valuation, the analyst tells investors in a research note.