Truist lowered the firm’s price target on Paycor HCM to $20 from $33 but keeps a Buy rating on the shares. The firm is cutting its FY25 revenue view to $726M from $759M to reflect the short-term recurring revenue headwinds in a “proactive” model-derisking move, the analyst tells investors in a research note. The firm adds however that recurring revenue could reaccelerate into the second half of FY25 while profits and cash flows for Paycor strengthen.
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