By Robert W. Baird
NEW YORK, July 2 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on UniFirst Corp (NYSE:
UNF -
news) (ticker: UNF),
while revising their estimates for the company. The target price has been raised from $36 to $39.
In a research note published this morning, the analysts mention that the company has reported its F3Q09 earnings significantly ahead of the estimates. However, UniFrist's rental organic growth continued to decline on a y/y basis, the analysts add. Competitive pricing is expected to restrict revenue growth and margins in the near future, Robert W Baird says. The EPS estimate for FY09 has been raised from $3.24 to $3.75, while the EPS estimate for FY10 has been reduced from $3.23 to $3.06.
© 2009 New Ratings
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