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Fly News Breaks for April 2, 2018
PAYX
Apr 2, 2018 | 09:39 EDT
Argus analyst John Eade recommends using the recent pullback in shares of Paychex as a buying opportunity. The stock has underperformed the market over the past quarter, declining 11% while the S&P 500 has fallen 3%. Eade tells investors in a research note. The analyst expects management to take steps to widen margins over time. He raised his estimates for the next two fiscal years and keeps a Buy rating on Paychex. Further, he views the company's current yield of 3.2% as attractive in a low interest rate environment.
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