Paychex (PAYX): RBC Capital Maintains Rating, Lowers Price Targe

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RBC Capital has reiterated its “Sector Perform” rating on Paychex (PAYX) but has reduced its price target from $125.00 to $102.00, an 18.40% decrease. This adjustment follows several other firms, including BMO Capital, Cantor Fitzgerald, Morgan Stanley, JP Morgan, and Citigroup, which have also recently lowered their price targets or initiated with “Underweight” ratings for the human capital management solutions provider. The average analyst price target for Paychex is $116.25, suggesting a 25.81% upside from the current price of $92.40, while GuruFocus estimates a one-year GF Value of $163.48.

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