BMO Capital Raises Numbers on Accenture plc (ACN), But Maintains 'Market Perform' on Modest Outlook
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Price: $313.66 -1%
Rating Summary:
25 Buy, 14 Hold, 0 Sell
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Today's Overall Ratings:
Up: 12 | Down: 9 | New: 14
Rating Summary:
25 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 9 | New: 14
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BMO Capital maintains a 'Market Perform' on Accenture plc (NYSE: ACN) price target raised to $67.00.
Analpyst, Keith Bachmann, said, "Accenture delivered a solid revenue and booking growth quarter, with some caveats in our view. While both revenues and EPS were in line with our preview estimates, the revenue guidance raise was more than we had expected. That said, much slower consulting growth and declining gross margin trends limit our EPS revision...We are raising our FY12 EPS estimate to $3.93 from $3.87. For FY13, we now forecast EPS of $4.32, as compared with $4.30 earlier."
"We maintain our rating because we think that EPS revisions will be modest, and we don't think the multiple will expand higher than 16x, as we explain herein. Growth in outsourcing is likely a positive for Cognizant (Nasdaq: CTSH) (OUTPERFORM)."
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 $63.52 yesterday.
Analpyst, Keith Bachmann, said, "Accenture delivered a solid revenue and booking growth quarter, with some caveats in our view. While both revenues and EPS were in line with our preview estimates, the revenue guidance raise was more than we had expected. That said, much slower consulting growth and declining gross margin trends limit our EPS revision...We are raising our FY12 EPS estimate to $3.93 from $3.87. For FY13, we now forecast EPS of $4.32, as compared with $4.30 earlier."
"We maintain our rating because we think that EPS revisions will be modest, and we don't think the multiple will expand higher than 16x, as we explain herein. Growth in outsourcing is likely a positive for Cognizant (Nasdaq: CTSH) (OUTPERFORM)."
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 $63.52 yesterday.
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