Paycor HCM price target raised to $30 from $27 at Jefferies

Jefferies raised the firm’s price target on Paycor HCM to $30 from $27 and keeps a Buy rating on the shares. Paycor’s Q4 beat consensus for revenue and operating margin, and assuming rates stay around Q4 levels, the firm estimates that guidance implies recurring revenue growth in the mid-teens, the analyst tells investors in a research note. While guidance may prove conservative, the results and outlook are unlikely to push the stock higher in the short-term.