TD Cowen Downgrades Paychex to Market Perform, Lowers Price Target to $123
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Bryan Bergin has downgraded Paychex (NASDAQ:PAYX) from Outperform to Market Perform and reduced the price target from $132 to $123.
December 22, 2023 | 9:25 am
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NEGATIVE IMPACT
Paychex downgraded by TD Cowen from Outperform to Market Perform; price target lowered from $132 to $123.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further supports the expectation of a downward movement.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100