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Wells Fargo & Co. started coverage on shares of ARAMARK Holdings Corp (NASDAQ:ARMK) in a research note issued on Thursday, StockRatingsNetwork reports. The firm set an “overweight” rating and a $29.00 price target on the stock. Wells Fargo & Co.’s price objective indicates a potential upside of 11.11% from the company’s current price.

The analysts wrote, “We remain positive on Aramark, and believe it is on a path to achieve strong margin gains for F14. The company posted solid first quarter results (see our earlier note). Strong sales with existing customers were complemented by customer wins, and the company continued to make progress on efficiency initiatives. We see upside to the stock, which currently trades at 9.0x EV/F15e MS Adj EBITDA and 17.9x F15e P/E (MS Adjusted). Our PT of $31 implies 9.9x EBITDA and P/E of 21.3x which we see as reasonable given the company’s momentum.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. initiated coverage on shares of ARAMARK Holdings Corp in a research note to investors on Tuesday, January 21st. They set a “buy” rating on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of ARAMARK Holdings Corp in a research note to investors on Tuesday, January 21st. They set an “overweight” rating and a $29.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of ARAMARK Holdings Corp in a research note to investors on Tuesday, January 21st. They set an “overweight” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.71.

ARAMARK Holdings Corp (NASDAQ:ARMK) opened at 26.10 on Thursday. ARAMARK Holdings Corp has a one year low of $20.10 and a one year high of $29.71. The stock’s 50-day moving average is $24.77 and its 200-day moving average is $24.62.

ARAMARK Holdings Corp (NASDAQ:ARMK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.70 billion. The company’s quarterly revenue was up 6.4% on a year-over-year basis.

ARAMARK Holdings Corporation is a global provider of food, facilities and uniform services to education, healthcare, business and industry and sports, leisure and corrections clients.

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