BMO Capital initiated coverage of Paychex (PAYX) with a Market Perform rating and $160 price target The firm says the company’s recent acquisition of Paycor is a “major strategic endeavor” to broaden its market opportunity across customers and products. Patience will be required to evaluate the execution and the stock’s valuation appears reasonably balanced, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PAYX:
- Strategic Acquisition and Market Challenges: Paychex’s Path Forward
- Paychex price target lowered to $148 from $150 at Morgan Stanley
- Paychex price target lowered to $145 from $155 at UBS
- Paychex price target lowered to $152 from $156 at Stifel
- Sell Rating for Paychex Amid Slower Growth and Integration Challenges