According to Jefferies, Paychex PAYX coverage was initiated with a Hold rating.
Jefferies said that PAYX is a stock that to some extent lives in its past. “Our $31/share price target is based on a blend of 19x our C12 EPS estimate of $1.57 and our DCF. Risks include small business conditions, employment markets, and interest rates.”
Paychex closed yesterday at $30.12.
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Posted In: Analyst ColorAnalyst RatingsData Processing & Outsourced ServicesInformation TechnologyJefferiesPaychex
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