Stifel raised the firm’s price target on Paychex to $130 from $124 and keeps a Hold rating on the shares. Paychex reported in line Q2 results, with modestly lowered FY24 revenue guidance, with a slightly higher margin outlook driving the ow-end of EPS guidance, the analyst tells investors in a research note. While there are a few moving pieces, Stifel says the underperformance feels overdone.
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