Paychex (PAYX) (PNR) (RLD) (RLH) (BEN) (SUNS) Ratings, Price Targets

Paychex (NASDAQ: PAYX), Pentair (NYSE: PNR), RealD (NYSE: RLD), Red Lion Hotels (NYSE: RLH), Franklin Resources (NYSE: BEN) and Solar Senior Capital Ltd. (NASDAQ: SUNS) ratings and price targets.

Paychex (PAYX) had its “Neutral” rating reiterated by Goldman Sachs (NYSE:GS).

Pentair (PNR) had its “Sell” rating reiterated by Goldman Sachs.

RealD (RLD) had its “Hold” rating reiterated by Hudson Square Research.

Red Lion Hotels (RLH) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.

Franklin Resources (BEN) was downgraded by Keefe, Bruyette & Woods to a “Market Perform” rating.

Solar Senior Capital Ltd. (SUNS) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.

Oracle (ORCL) (PANL) (PAYX) (COF) (COMV) (CVS) Ratings Reiterated

Oracle (NASDAQ: ORCL), Universal Display Co. (NASDAQ: PANL), Paychex, Inc. (NASDAQ: PAYX), Capital One (NYSE: COF), Comverge Inc. (NASDAQ: COMV) and CVS Caremark (NYSE: CVS) had ratings on them reiterated by analysts.

Goldman Sachs (NYSE:GS) reiterated its “Conviction Buy” rating on Oracle (ORCL).

Goldman Sachs reiterated its “Buy” rating on Universal Display Co. (PANL).

Goldman Sachs reiterated its “Neutral” rating on Paychex, Inc. (PAYX). They have a price target of $28.00 on the company.

Nomura (NYSE:NMR) reiterated its “Buy” rating on Capital One (COF).

Needham & Company reiterated its “Buy” rating on Comverge Inc. (COMV).

Morgan Stanley (NYSE:MS) reiterated its “Overweight” rating on CVS Caremark (CVS). They have a price target of $44.00 on the company.

Price Targets on (GLBL) (IBI) (PAYX) (RIG) (SUG) Updated

Analysts updated their price targets on Global Industries, Ltd. (NASDAQ: GLBL), Interline Brands, Inc. (NYSE: IBI), Paychex, Inc. (NASDAQ: PAYX), Transocean (NYSE: RIG) and Southern Union (NYSE: SUG).

Barclays Capital cut their price target on Global Industries, Ltd. (GLBL) from $9.00 to $7.00. They have an “equal weight” rating on the company.

Barclays Capital cut their price target on Interline Brands, Inc. (IBI) from $24.00 to $22.00. They have an “underweight” rating on the company.

Barclays Capital raised their price target on Paychex, Inc. (PAYX) from $30.00 to $32.00. They have an “equal weight” rating on the company.

UBS AG (NYSE:UBS) cut their price target on Transocean (RIG) from $88.00 to $85.00. They have a “buy” rating on the company.

Barclays Capital raised their price target on Southern Union (SUG) from $28.00 to $30.00. They have an “overweight” rating on the company.

Paychex (NASDAQ:PAYX) Core Business Gradually Improving

Citing potentially stronger employment and sentiment from small business, UBS sees the core business of Paychex (NASDAQ:PAYX) improving.

UBS says, "Recent macro data points regarding employment and small-business sentiment have been reflecting gradual improvement in PAYX's core business, we believe. As a result, we are raising our price target to $32.

"We still see longer-term growth challenges - We maintain our view that PAYX (and ADP (NYSE: ADP)) will be challenged to re-attain pre-recession top-line growth rates, largely because of a lack of secular tailwind in the payroll outsourcing market. We also don't expect much help from the interest rate environment any time soon."

UBS reiterates a "Neutral" rating on Paychex (PAYX), which was trading at $32.72, gaining $0.29, or 0.89 percent, as of 2:54 PM EST. UBS boosted their price target on Payches (PAYX) from $28 to $32.

Paychex (NASDAQ:PAYX) EPS Up on Cost Controls

Paychex (NASDAQ:PAYX) was able to beat earnings expectations as they put cost controls in place which suprised the Street with the results.

Barclays (NYSE:BCS) said, "On Monday night, Paychex reported good F2Q'11 results as a modestly improving economy combined with strong cost controls to drive a $0.02 EPS surprise vs. consensus expectations. PAYX flowed through the beat into a modest increase in FY'11 guidance...On a positive note, checks per client, revenue per check, and client retention all improved y/y, and service revenue grew a solid 3.5% (though down from the 4.1% y/y growth reported last quarter).

"At 22.0x and 20.8x our CY'10 and CY'11 EPS estimates of $1.40 and $1.47, we believe PAYX already prices in its strong business model and a healthy growth rebound, and find the stock fairly valued."

Barclays reiterates an "Equalweight" on Paychex, which closed Wednesday at $31.05, up $0.38, or 1.34 percent. Barclays has a price target of $30 on the company.