Accenture plc (ACN) PT Raised to $480 at Morgan Stanley After Analyst Day Confirms Large Opportunity

Morgan Stanley analyst James Faucette raised the price target on Accenture plc (NYSE: ACN) to $480.00 (from $475.00) after the company's analyst conference on the belief that there is not only sufficient demand for the company's services, but management has the talent, experience and bench depth to scale up the business to meet this demand.

The analyst reiterated an Overweight rating, stating "Demonstrating the strength of its management bench, ACN
outlined a path to durable future growth, underpinned by a best-in-class hiring machine." "Cloud helps drive
“enterprise reinvention,” and ACN’s leadership position in migration helps position the company to help clients drive further cloud engagement, particularly as management estimates current public cloud penetration at 30-40%, up from approximately 20% 18 months ago. The second force, talent, is unique to ACN given the company’s Talent & Organization practice, which helps clients with their own talent strategies, helping to design and implement scalable recruitment, employment, and upskilling platforms."

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