Barclays Maintains Equal-Weight on Paychex, Raises Price Target to $132
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ramsey El-Assal maintains an Equal-Weight rating on Paychex (NASDAQ:PAYX) and raises the price target from $118 to $132.
September 23, 2024 | 2:50 pm
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Barclays has maintained its Equal-Weight rating on Paychex but increased the price target from $118 to $132, indicating a more optimistic outlook.
The increase in the price target from $118 to $132 by Barclays suggests a more positive outlook on Paychex's future performance, which could lead to a short-term positive impact on the stock price. However, the Equal-Weight rating indicates that the stock is expected to perform in line with the market, which tempers the overall impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100