Barclays Reiterates an 'Underweight' on Paychex (PAYX); Just Dismal

Barclays reiterates an 'Underweight' on Paychex (NASDAQ: PAYX) price target of $30.00 (from $31.00).

Analyst, Gary E. Bisbee, finds shares of PAYX unattractive at current levels, saying the company's valuation is full, growth outlook is stalling and there's a lack of near-term catalysts...all that, but the company is well capitalized and profitable?!

Bisbee lowers FY13 EPS estimate from $1.62 to $1.60 after last night's in-line Q4 and weaker initial FY13 guidance.

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 $31.93 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
• Nomura/Instinet Downgrades Pop Mart International Group Ltd (9992:HK) to Neutral