BMO Capital Maintains a 'Market Perform' on Accenture plc (ACN); Downside to $50, Better Entry Point
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Price: $82.93 +0.58%
Rating Summary:
9 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
9 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade ACN Now!
BMO Capital maintains a 'Market Perform' on Accenture plc (NYSE: ACN) price target of $66.00.
Analyst, Keith Bachman, said, "We think near-term downside on the stock is about $50. Our price target is based on 1.3x the S&P. Over the past two years, Accenture has traded at about 1.15x - 1.20x the S&P 500. Therefore, we do not believe Accenture will earn a multiple above our assumed 16x multiple. We like the story and defensive nature of Accenture, but choose to wait until the stock is in the low $50s before we consider moving to a more constructive stance."
Lowers FY13 EPS estimates from $4.26 to $4.22, revs remain at $29.3B.
For an analyst ratings summary and ratings history on Accenture plc click here. For more ratings news on Accenture plc click here.
Shares of Accenture plc closed at $56.63 yesterday, with a 52 week range of $47.40-$65.89.
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Analyst, Keith Bachman, said, "We think near-term downside on the stock is about $50. Our price target is based on 1.3x the S&P. Over the past two years, Accenture has traded at about 1.15x - 1.20x the S&P 500. Therefore, we do not believe Accenture will earn a multiple above our assumed 16x multiple. We like the story and defensive nature of Accenture, but choose to wait until the stock is in the low $50s before we consider moving to a more constructive stance."
Lowers FY13 EPS estimates from $4.26 to $4.22, revs remain at $29.3B.
For an analyst ratings summary and ratings history on Accenture plc click here. For more ratings news on Accenture plc click here.
Shares of Accenture plc closed at $56.63 yesterday, with a 52 week range of $47.40-$65.89.
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