UniFirst Corp.: Downgrade To Hold As Upside Potential Is Limited Given Weak FY25 Outlook

Group 1 - The core investment thesis for UniFirst Corp. (NYSE: UNF) is based on its potential to expand margins and achieve a higher valuation if it meets performance expectations [1] - The ideal investment is characterized by core business operations in a sector expected to grow structurally at a rate exceeding GDP growth over the next 5-10 years [1] - Sustainable competitive advantages that lead to attractive unit economics are essential for the company's profitability [1] Group 2 - The investment should be managed by competent, ethical, and long-term thinkers to ensure effective decision-making [1] - A fair valuation is a critical component of the investment criteria for UniFirst Corp. [1]