Citi keeps a Neutral rating and $145 price target on Paychex (PAYX) while noting that that company’s rumored acquisition of Paycor (PYCR) would be a TAM – total addressable market – expansion play. This is a key component lacking in the current stock narrative, and adding mid/up-market exposure with this deal would increase competitiveness against other payroll providers, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PAYX:
- Paycor (PYCR) Stock Jumps 25% on Takeover Reports
- Disney to own 70% of Fubo, Trudeau to resign as party leader: Morning Buzz
- Truist not surprised by interest in Paycor given ‘scarcity value’
- Paychex deal for Paycor HCM would be ‘strategically sound,’ says Stifel
- Morning Movers: FuboTV skyrockets following deal to merge with Hulu + Live TV