Information Provided By:
Fly News Breaks for June 26, 2019
PAYX
Jun 26, 2019 | 11:43 EDT
As previously reported, BofA/Merrill analyst Jason Kupferberg downgraded Paychex to Underperform from Neutral, with an $82 price target, as he sees valuation ahead of fundamentals. The analyst notes that the shares have outperformed significantly year to date and trade at a premium to historical levels. Further, Kupferberg sees the company's Q4 results/2020 guidance as in-line to slightly below consensus expectations. The stock has benefited from investor rotation related to the falling 10-year Treasury yield, he contends, adding that on the basis of underlying fundamentals, shares are "overvalued."
News For PAYX From the Last 2 Days
There are no results for your query PAYX