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Fly News Breaks for September 11, 2019
PAYX
Sep 11, 2019 | 06:15 EDT
Cowen analyst Bryan Bergin initiated Paychex with a Market Perform rating and a price target of $86. The analyst is positive on the company's position as a top human capital management provider to small-medium businesses and its healthy visibility, free cash flows, and leading margins. Bergin cautions however that the SMB employment market is "already tight", with the lack of upside catalysts keeping him on the sidelines until a better entry point emerges.
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