Goldman Sachs analysts maintained a "Neutral" rating on
consulting and outsourcing firm Accenture plc (
) on Monday, but raised its price target.
The analysts see shares of ACN reaching $69, up from its
previous valuation of $63. The new price target is a -1.7% downside
to Friday's closing price of $70.21.
A Goldman Sachs analyst noted, "Our FY1Q revenue/EPS estimates
of $7.28 bn (+2.9% reported; +5.6% CC basis)/$1.06 are unchanged.
Although we retain our estimates, we are raising our 12-month price
target to $69 (from $63) reflecting sustained multiple expansion in
the Consulting and Outsourcing group (+14% YTD), and increased
confidence in our EPS outlook for ACN given its strong capital
allocation and an intact demand backdrop - note our recent tech
growth forecast of 3% for 2013, up from 2% growth in 2012."
Accenture shares were up 28 cents, or +0.40%, during morning
trading on Monday.
The Bottom Line
Shares of Accenture (
) have a 2.31% dividend yield, based on Friday's closing stock
price of $70.21. The stock has technical support in the $63-$65
price area. The stock is trading near all-time highs.
Accenture plc (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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