Cintas resumed with a Sell at Citi

Citi analyst Leo Carrington resumed coverage of Cintas (CTAS) with a Sell rating and $161 price target Cintas continues to demonstrate operational excellence in driving growth and margin progression, but the shares are “priced for perfection,” the analyst tells investors in a research note. In the context of decelerating underlying employment growth and softer pricing, Citi sees elevated downside risk to the share price on even modest organic growth disappointment.