Paychex (PAYX) PT Lowered to $135 at Cowen

June 30, 2022 6:31 AM EDT
Get Alerts PAYX Hot Sheet
Price: $129.55 +0.76%

Rating Summary:
    4 Buy, 14 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 53 | New: 12
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Cowen analyst Bryan Bergin lowered the price target on Paychex (NASDAQ: PAYX) to $135.00 (from $140.00) while maintaining an Outperform rating.

The analyst commented, "Market concerns of a slowdown are well understand, yet there were no meaningful signs of such slowing here. A good message largely fell on deaf ears, and we see its pullback as an opportunity. PAYX is an attractive shelter amid volatile market conditions w/ consistent execution, robust FCF, attractive yield, & upside in estimates via conservative 2H view. Reiterate Outperform PT $135."

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