Accenture plc (ACN) PT Raised to $210 at Susquehanna

Susquehanna analyst James Friedman raised the price target on Accenture plc (NYSE: ACN) to $210.00 (from $153.00) while maintaining a Neutral rating.

The analyst comments "Given the downbeat stock performance, there was a lot to be enthusiastic about in the FQ4 results and next year’s guidance. One of the most encouraging metrics was the strength in the book/bill at 1.2x and the 7% growth in Consulting. We were also encouraged that the CMT vertical delivered 9% growth as CMT often is predictive of broader technology purchasing. Health & Public Service is also in recovery mode, a sign of things to come. Sounds to us like ACN has the right assets and strategy, and we are raising our estimates and Price Target to $210. We are encouraged by the improving business trends but remain Neutral pending a clearer path with the AI ecosystem."

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