Accenture’s Price Target Slashed at Kaufman Bros. (ACN)


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Business consulting and outsourcing company Accenture Plc ( ACN ) on Thursday saw its price target lowered by analysts at Kaufman Bros.

The firm said it now expects ACN shares to reach $34, which represents an expected 9% downside to the stock's Wednesday closing price of $37.28. Kaufman Bros. noted that the company could be facing stagnant growth and price deflation.

The analyst currently rates Accenture as a "Sell."

Accenture shares were mostly flat in premarket trading Thursday.

The Bottom Line
We had removed shares of ACN from our recommended list back on May 14, when the stock was trading at $40.82. The company has a 2.01% dividend yield, based on last night's closing stock price of $37.28. The stock has technical support in the $33-$35 price area. If the shares can firm up, we see overhead resistance around the $40-$41 price levels. We would remain on the sidelines for now.

Accenture Plc ( ACN ) is not recommended at this time, holding a 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 Nasdaq, Inc.

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This article appears in: Investing , Stocks

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