Paychex price target raised to $150 from $142 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Paychex (PAYX) to $150 from $142 and keeps an Equal Weight rating on the shares. The firm updated its model to reflect the inclusion of Paycor, with its FY26 and FY27 adjusted diluted EPS decreasing by about 5% and about 3%, respectively, while increasing its multiple to reflect continued strength in the underlying demand and employment environment, the analyst tells investors.