Societe Generale Raises Price Target on Accenture; “Hold” Rating (ACN)

By
A A A
Share |

On Friday analysts at Societe Generale maintained a "Hold" rating for consulting and outsourcing firm Accenture plc ( ACN ), but boosted its price target on a strong consulting forecast.

The analysts raised the valuation of ACN from $71 to $74. The new target is a +6.5% upside from Friday's closing price of $69.48.

Societe Generale commented, "Accenture is to report Q1 13 (to end-November) results on 19 December. We expect $7,273m (+3%) in revenues and $1.06 EPS, in line with cons. at $7,298m and $1.04. … We forecast consulting (56% group sales) to reach $4bn in revenue (-1% reported, +1% in local currency). Note that the first two quarters of FY13 face tough comps vs FY12: Q1 +11%lc and Q2 +8%lc. We believe Consulting will bottom out in Q2 as record consulting bookings in H2 12 convert to revenues albeit at a slow rate."

Accenture shares were flat in premarket trading on Monday. The stock is up +31.09% year-to-date.

The Bottom Line
Shares of Accenture ( ACN ) have a 2.33% dividend yield, based on Friday's closing stock price of $69.48. The stock has technical support in the $63-$65 price area. The stock is trading near all-time highs.

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.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: ACN

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

75%

Most Active by Volume

57,375,820
  • $16.20 ▼ 0.80%
46,357,695
  • $102.13 ▲ 1.23%
39,856,106
  • $3.59 ▲ 0.84%
36,749,915
  • $19.21 ▲ 5.38%
35,094,671
  • $74.63 ▼ 1.75%
25,538,058
  • $48.06 ▼ 0.23%
24,241,250
  • $38.18 ▲ 1.03%
22,422,839
  • $11.20 ▲ 3.70%
As of 8/27/2014, 04:02 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com