Paychex price target raised to $153 from $150 at TD Cowen

TD Cowen raised the firm’s price target on Paychex (PAYX) to $153 from $150 and keeps a Buy rating on the shares. The firm previewed its upcoming results where they anticipate 4Q results slightly above Street based on a stable demand/employment backdrop and expect initial FY26 guides to be fairly in-line with investor views, though consensus is largely stale lacking the Paycor HCM (PYCR) (PCOR) contribution.