UPDATE: Barclays Downgrades Paychex (PAYX) to Underweight; Full Valuation and Lack of N-T Catalysts
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Price: $37.86 -0.24%
Rating Summary:
0 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
0 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PAYX Now!
(Updated - June 25, 2012 1:21 PM EDT)
Barclays downgraded Paychex (NASDAQ: PAYX) from Equalweight to Underweight, maintains price target of $31.00.
Analyst, Gary Bisbee, said, "While we acknowledge PAYX's strong financial profile, we are downgrading the stock to UW based on a full valuation, tepid growth outlook, and lack of near-term catalysts. We expect FY'13 guidance to meet estimates for ~7% y/y growth and see little room for acceleration or big upside revisions before the economic recovery strengthens and interest rates rise."
Bisbee maintains FY12/13 EPS estimates of $1.52/1.62 vs. Street consensus of $1.52/1.63.
For an analyst ratings summary and ratings history on Paychex click here. For more ratings news on Paychex click here.
Shares of Paychex closed at $32.26 yesterday, with a 52 week range of $25.12-$32.73.
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Barclays downgraded Paychex (NASDAQ: PAYX) from Equalweight to Underweight, maintains price target of $31.00.
Analyst, Gary Bisbee, said, "While we acknowledge PAYX's strong financial profile, we are downgrading the stock to UW based on a full valuation, tepid growth outlook, and lack of near-term catalysts. We expect FY'13 guidance to meet estimates for ~7% y/y growth and see little room for acceleration or big upside revisions before the economic recovery strengthens and interest rates rise."
Bisbee maintains FY12/13 EPS estimates of $1.52/1.62 vs. Street consensus of $1.52/1.63.
For an analyst ratings summary and ratings history on Paychex click here. For more ratings news on Paychex click here.
Shares of Paychex closed at $32.26 yesterday, with a 52 week range of $25.12-$32.73.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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