UPDATE: Wells Fargo Initiates Coverage on Aramark, Establishes $28.00-29.00 Valuation Range

In a report published Tuesday, Wells Fargo analyst Jeff Farmer initiated coverage on Aramark (NASDAQ: ARMK ) with an Outperform rating, establishing a $28.00-29.00 valuation range. According to the report, ARMK's revenue growth is expected to benefit from the combination of a sizeable structural tailwind, driven by outsourcing trends