Cintas price target boosted at Jefferies following results

|About: Cintas Corporation (CTAS)|By:, SA News Editor

Poor weather, middling economic conditions, and lumpy direct sales were balanced with strong cross-selling and improved efficiency which helped rental gross margins 190 bps, says analyst Dan Dolev, reiterating his Buy rating on Cintas (CTAS) and boosting the PT to $69 from $58.

"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."