New Buy Rating for Accenture (ACN), the Technology Giant

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 opened today at $159.79.

Foresi wrote:

“: We maintain our Overweight rating on Accenture and our PT of $193. The company, in our view, is positioned to continue to post solid growth in Digital services, an important contributor to aggregate growth. The “New” includes Digital plus Cloud and Security and has been growing by close to 30% annually to over half of revenues. The prior period (4QFY18) saw double-digit constant currency (cc) growth for the fourth quarter in a row, with strength in the Tech vertical and across all verticals. Investor focus for the quarter will be on FY19 guidance updates and recent acquisitions.”

According to TipRanks.com, Foresi is a top 100 analyst with an average return of 14.1% and a 67.3% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Accenture with a $184.59 average price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $175.64 and a one-year low of $146.05. Currently, Accenture has an average volume of 2.38M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.