Barclays Maintains an 'Overweight' on Accenture plc (ACN); Management Meeting Takeaways
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Price: $181.35 --0%
Rating Summary:
26 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
26 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Barclays maintains an 'Overweight' on Accenture plc (NYSE: ACN) price target of $61.00.
Barclays analyst says, "Yesterday, we hosted a meeting in Boston with Marty Cole, who runs ACN's Communications, Media & Technology operating group and leads the company-wide mobility initiative. CMT generated $5.4 billion in revenue (21% of total) in FY11. We came away with constructive takeaways on secular business drivers (many of which are in the early stages of contributing to growth), and management conversations with customers continue to be positive (including in a number of European countries). Amidst macro concerns among investors, we believe ACN has near-term visibility related to several initiatives where it is helping clients build and manage critical products they are taking to market, with what we estimate to be a greater proportion than company average of business related to outsourcing work supporting resilience."
"We believe ACN's added resources through the Nokia (NYSE: NOK) outsourcing agreement (2,300 engineers dedicated to working on mobile operating systems) could open up opportunities long-term to work with other handset vendors to support not just Symbian/Windows Phone, but potentially other operating systems as well."
For more ratings news on Accenture plc click here and for the rating history of Accenture plc click here.
Shares of Accenture plc closed at $54.85 yesterday.
Barclays analyst says, "Yesterday, we hosted a meeting in Boston with Marty Cole, who runs ACN's Communications, Media & Technology operating group and leads the company-wide mobility initiative. CMT generated $5.4 billion in revenue (21% of total) in FY11. We came away with constructive takeaways on secular business drivers (many of which are in the early stages of contributing to growth), and management conversations with customers continue to be positive (including in a number of European countries). Amidst macro concerns among investors, we believe ACN has near-term visibility related to several initiatives where it is helping clients build and manage critical products they are taking to market, with what we estimate to be a greater proportion than company average of business related to outsourcing work supporting resilience."
"We believe ACN's added resources through the Nokia (NYSE: NOK) outsourcing agreement (2,300 engineers dedicated to working on mobile operating systems) could open up opportunities long-term to work with other handset vendors to support not just Symbian/Windows Phone, but potentially other operating systems as well."
For more ratings news on Accenture plc click here and for the rating history of Accenture plc click here.
Shares of Accenture plc closed at $54.85 yesterday.
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