RBC Capital analysts provided their key takeaways from Cintas Corporation (NASDAQ:CTAS) CFO meeting, where he highlighted strong momentum in the business driven by an increased propensity to outsource, targeting a large addressable market, including recession-resilient end markets with a broad set of offerings and robust retention.

CFO Mike Hansen highlighted Scale, Innovation, and Technology as the key competitive advantage driving accelerated growth while expanding margins.

With an under-levered balance sheet, the analysts expect a greater focus on M&A. Lastly, the facility tour helped them appreciate the benefits of automation and SAP implementation. The analysts reiterated their Outperform rating and $525 price target.