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Benzinga
Benzinga
Business
Akanksha Bakshi

Baird Upgrades UniFirst To Outperform, Sees Notable Upside

  • Baird analyst Andrew Wittmann upgraded UniFirst Corp (NYSE:UNF) to Outperform from Neutral and raised the price target to $236 (an upside of 18%), from $215.
  • The analyst says that disappointing guidance has yielded depressed sentiment, and heavy investment will weigh on earnings for some time, but ultimately, these investments should make UNF much more competitive.
  • Also, read UniFirst Q1 Results Beat Estimates.
  • Wittmann believes its relative valuation discount and cash-laden balance sheet could prove important assets in a rising rate environment.
  • Price Action: UNF shares traded higher by 1.98% at $199.90 on the last check Thursday.
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