Paycor HCM upgraded to Outperform from Market Perform at BMO Capital

BMO Capital upgraded Paycor HCM (PYCR) to Outperform from Market Perform with a price target of $24, up from $19. The firm “tactically” sees a more attractive near-term risk/reward for the shares. Intra-quarter data points continue to suggest stabilizing growth for Paycor HCM, while the moderation of some other recent growth headwinds should ease over the next few quarters, the analyst tells investors in a research note. The firm says that with execution, the stock’s valuation multiple discount to peers to narrow given Paycor’s second half of the fiscal year growth trajectory.