Accenture Gets a Buy Rating from Cantor Fitzgerald

By Jason Carr

Cantor Fitzgerald analyst Joseph Foresi reiterated a Buy rating on Accenture (NYSE: ACN) yesterday and set a price target of $135. The company’s shares closed last Friday at $122.89.

Foresi wrote:

“The initial Digital phase involving customers is maturing. (Click Here for Our Most Recent ACN Note). Digital began with a focus on customers and servicing or interfacing with the customer. Consumers drove the demand. The customer phase continues, but is evolving from the basic servicing of the customer to the full experience. Accenture has acquired capabilities to help them enhance the client experience, which is the next stage of focus for consumers on the Digital front. Digital engagements differ from the traditional Accenture engagements in that they start small and grow rather than being one large project.”

According to TipRanks.com, Foresi is a 5-star analyst with an average return of 10.5% and a 77.8% success rate. Foresi covers the Technology sector, focusing on stocks such as Automatic Data Processing, Fidelity National Info, and Computer Sciences.

Accenture has an analyst consensus of Moderate Buy, with a price target consensus of $129.88.

The company has a one year high of $126.53 and a one year low of $108.66. Currently, Accenture has an average volume of 2.32M.

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Accenture Plc is an investment holding company, which engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology, Financial Services, Health and Public Service, Products, Resources and Other. The Communications, Media, and Technology segment comprises of assistance to clients for run cost-effective operations; creation of business model innovations; introduction of new products and services; and digital transformation. The Financial Services segment works with clients to address growth, cost and profitability pressures, industry consolidation, regulatory changes, and need for continuous adaptation to digital technologies. The Health and Public Service segment designs digital solutions to improve social, economic, and health outcomes for the healthcare payers and providers. The Products segment consists of consumer goods, retail, and travel services; industry group; and life sciences. The Resources segment serves the chemicals, energy, forest products, metals and mining, utilities, and related industries. The Other segment includes investment holding activities. The company was founded in 1989 and is headquartered in Dublin, Ireland.