Barclays Reiterates an 'Overweight' on Accenture plc (ACN); 4Q Highlights Strong Bookings Trends; Targets Reaffirmed
Get Alerts ACN Hot Sheet
Price: $312.33 -1.42%
Rating Summary:
25 Buy, 14 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
25 Buy, 14 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Barclays reiterates an 'Overweight' on Accenture plc (NYSE: ACN) price target of $61.00.
Barclays analyst says, "Risks to discretionary spending from the macro environment are clearly still important to acknowledge, for ACN and for the entire space. That said, we thought management did a good job of laying out differentiating factors of a potential downturn: (1) less of a surprise factor - European countries facing sovereign debt challenges are clearly aware of and working actively to solve the issues; (2) clients have stronger balance sheet and more resilient business models; and (3) clients are not just making short-term tactical adjustments to deal with economic and regulatory challenges, but are actually making structural business model changes to improve operations. In our view, ACN's strengthened outsourcing business is a fourth, company-specific factor providing further support. Overall, the quarter highlighted the relative resilience of ACN's business and reaffirmed our view that its above-average growth potential continues to warrant a premium to market valuations." (Barclays raises FY11 EPS estimate from $3.82 to $3.84)
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 $53.65 yesterday.
Barclays analyst says, "Risks to discretionary spending from the macro environment are clearly still important to acknowledge, for ACN and for the entire space. That said, we thought management did a good job of laying out differentiating factors of a potential downturn: (1) less of a surprise factor - European countries facing sovereign debt challenges are clearly aware of and working actively to solve the issues; (2) clients have stronger balance sheet and more resilient business models; and (3) clients are not just making short-term tactical adjustments to deal with economic and regulatory challenges, but are actually making structural business model changes to improve operations. In our view, ACN's strengthened outsourcing business is a fourth, company-specific factor providing further support. Overall, the quarter highlighted the relative resilience of ACN's business and reaffirmed our view that its above-average growth potential continues to warrant a premium to market valuations." (Barclays raises FY11 EPS estimate from $3.82 to $3.84)
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 $53.65 yesterday.
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