Stifel analyst David Grossman raised the firm’s price target on Paychex to $122 from $119 and keeps a Hold rating on the shares. The company’s Q3 results were slightly better and its Q4 guidance was in-line with expectations, the analyst tells investors. The strong bookings reported in its results combined with stability within the installed-base both suggest near-term visibility is good, which should last through the first half of 2024, Stifel says.
Published first on TheFly
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