Accenture Upgraded to “Buy” at UBS (ACN)

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Consulting and outsourcing company Accenture Plc ( ACN ) on Monday caught a big upgrade from analysts at UBS.

The firm said it boosted its rating on ACN from "Neutral" to "Buy" with a $63 price target. That target suggests a 13% upside to the stock's Friday closing price of $55.74.

UBS also raised its earnings estimates for the company, noting that recent performance checks indicated customers are fine with paying a premium for the company's services.

Accenture shares rose 26 cents, or +0.5%, in premarket trading Monday.

The Bottom Line
Shares of Accenture ( ACN ) have a 1.61% dividend yield, based on Friday's closing stock price of $55.74. The stock has technical support in the $51-$52 price area. If the shares can firm up, we see overhead resistance around the all-time high levels of $41-$2 price levels.

Accenture Plc ( ACN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: ACN

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