Jefferies analysts increased their price target for ARAMARK (NYSE:ARMK) to $37 from $35, maintaining a Buy rating on the stock.

The analysts adjusted fiscal 2024 estimates to account for higher-than-expected foreign exchange headwinds but remain optimistic about the company's prospects.

The analysts highlighted attractive organic growth driven by strong outsourcing trends, favorable pricing, and continued new business wins.

The analysts also anticipate that ARAMARK's operating income margin will improve as new business matures, inflation eases, and cost-saving measures take effect.