On Friday analysts at Societe Generale maintained a “Hold” rating for consulting and outsourcing firm Accenture plc (ACN), but boosted its price target on a strong consulting forecast.
The analysts raised the valuation of ACN from $71 to $74. The new target is a +6.5% upside from Friday’s closing price of $69.48.
Societe Generale commented, “Accenture is to report Q1 13 (to end-November) results on 19 December. We expect $7,273m (+3%) in revenues and $1.06 EPS, in line with cons. at $7,298m and $1.04. … We forecast consulting (56% group sales) to reach $4bn in revenue (-1% reported, +1% in local currency). Note that the first two quarters of FY13 face tough comps vs FY12: Q1 +11%lc and Q2 +8%lc. We believe Consulting will bottom out in Q2 as record consulting bookings in H2 12 convert to revenues albeit at a slow rate.”
Accenture shares were flat in premarket trading on Monday. The stock is up +31.09% year-to-date.
The Bottom Line
Shares of Accenture (ACN) have a 2.33% dividend yield, based on Friday’s closing stock price of $69.48. The stock has technical support in the $63-$65 price area. The stock is trading near all-time highs.
Accenture plc (ACN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here