Paychex, Inc. (PAYX) is currently trading near its 52-week low at $92.47. Cantor Fitzgerald initiated coverage with an Underweight rating and a $98 price target, citing intense competition and macroeconomic challenges affecting organic growth, despite acknowledging the strategic acquisition of Paycor. The company is, however, expected to maintain momentum due to its strong free cash flow generation and shareholder-friendly practices.
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Why Paychex, Inc. (PAYX) Is Near Lows
Paychex, Inc. (PAYX) is currently trading near its 52-week low at $92.47. Cantor Fitzgerald initiated coverage with an Underweight rating and a $98 price target, citing intense competition and macroeconomic challenges affecting organic growth, despite acknowledging the strategic acquisition of Paycor. The company is, however, expected to maintain momentum due to its strong free cash flow generation and shareholder-friendly practices.