Citi Friday morning lowered the firm’s price target on Paychex to $125 from $130 and keeps a Neutral rating on the shares. The company reported mostly in line results pointing to improving client retention, solid trends so far this selling season, and improving growth in the PEO segment, the analyst tells investors in a research note. However, the firm trimmed the price target to reflect less chance for upside over the next two quarters.
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