Jefferies Boosts Paychex Price Target Amid Strong Performance

Published 1 days agoPAYX

Jefferies Financial Group has recently raised its price target for Paychex, Inc. from $120.00 to $130.00, while maintaining a "Hold" rating. This move highlights a positive outlook for the company, supported by strong financial results in the latest fiscal quarter.

Paychex's impressive performance is underpinned by a 6% increase in revenue and an 8% rise in earnings per share, as reported for its most recent fiscal quarter. These figures reinforce its reputation as a financially healthy entity. According to American Banking News, the consensus among analysts remains a "Hold" rating, with an average price target of $130.77.

The company is recognized as a solid, defensive growth stock, often sustaining a stable growth rate in earnings per share, even in varied market conditions. These latest adjustments and ratings reflect confidence in Paychex's ability to maintain its strong market position.

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