Barclays Maintains Equal-Weight on Paychex, Lowers Price Target to $120
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ramsey El-Assal has maintained an Equal-Weight rating on Paychex (NASDAQ:PAYX) but reduced the price target from $126 to $120.
December 22, 2023 | 10:49 am
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Barclays has maintained an Equal-Weight rating on Paychex but lowered the price target from $126 to $120, indicating a potential downside or slower growth expectation.
The reduction in price target by Barclays reflects a more conservative valuation of Paychex, which could lead to a negative investor sentiment and a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100