TD Cowen analyst Bryan Bergin lowered the firm’s price target on Paychex to $125 from $130 and keeps an Outperform rating on the shares. The analyst said shares are likely to show support from its strong execution and relative estimate insulation but offsetting this is persistent macro uncertainty leaving a cautious Street sentiment that’s apt to remain present.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PAYX:
- Paychex CEO: Our value proposition continues to resonate in the market
- Paychex sees FY24 revenue up ‘somewhere in the 6%-7%’ range, consensus $5.26B
- Paychex sees FY23 EPS growth of of 13%-14%, consensu $4.24
- Paychex reports Q3 EPS $1.29, consensus $1.24
- Notable companies reporting before tomorrow’s open