BMO Capital Maintains a 'Market Perform' on Accenture plc (ACN); Downside to $50, Better Entry Point
Tweet Send to a FriendGet Alerts ACN Hot Sheet
Price: $82.90 --0%
Rating Summary:
9 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 8 | New: 6
Rating Summary:
9 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 8 | New: 6
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Urban Outfitters (URBN) Added to Best Ideas List at Janney Capital on Solid Q1 Results
- UPDATE: BTIG Starts ING U.S (VOYA) at Buy, Shares 'Significantly Undervalued'
- Actavis (ACT) Fairly Valued After Run-Up - Jefferies
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
BMO Capital, Standard & Poor's
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
