Paychex's (PAYX) outlook for fiscal 2026 is expected to be roughly in-line with analyst expectations and its preliminary guidance for about 6% core growth, RBC Capital Markets said in an earnings preview Tuesday.
The company could also potentially increase its Paycor cost synergy target of over $80 million and highlight "robust revenue synergies" due to cross-selling of products, RBC said.
RBC said its estimates appear higher than consensus because consensus estimates have yet to be fully updated for the Paycor acquisition. The firm said it expects the company to issue a total revenue growth guidance of 18% to 19.5% year-over-year, which includes Paycor.
RBC raised its price target to $165 from $148 and maintained a sector perform rating on the stock.
Price: 157.04, Change: -0.46, Percent Change: -0.29
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