Aramark Q2 Organic Revenue Beat Drives Higher Growth Outlook, Morgan Stanley Says
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Aramark's Q2 organic revenue surpassed estimates, prompting management to aim for the upper end of its annual growth guidance. Year-to-date new business wins reached $1 billion, with a strong retention rate of 98%. The company is on track for a record year, bolstered by a significant hyperscaler contract. Morgan Stanley raised its price target for Aramark to $50, citing potential growth from upcoming events and a strong outlook for the education sector. Current stock price is $49.37, up 1.98%.
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