Cantor Fitzgerald Thinks Accenture’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Accenture (ACNResearch Report), with a price target of $193. The company’s shares closed yesterday at $150.96, close to its 52-week low of $146.05.

Foresi said:

“. We maintain our Overweight rating on ACN and our PT of $193*. Accenture turned in strong quarterly results, and raised its FY19 guidance. Consulting came in ahead of Street estimates. We look to the call to provide further color on growth drivers (digital performance/acquisition contribution), outlook for the business lines, bookings implications and FX impact.”

According to TipRanks.com, Foresi is a top 100 analyst with an average return of 12.7% and a 62.3% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.

Accenture has an analyst consensus of Moderate Buy, with a price target consensus of $183.71, a 21.7% upside from current levels. In a report released yesterday, KeyBanc also maintained a Buy rating on the stock with a $182 price target.

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Accenture’s market cap is currently $96.47B and has a P/E ratio of 23.81. The company has a Price to Book ratio of 9.31.

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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.