Morgan Stanley Maintains Overweight on Accenture

Morgan Stanley is out with its report today on Accenture (NYSE: ACN), maintaining Overweight.

In its report, Morgan Stanley writes, "We are bullish ahead of ACN's upcoming F4Q print because we believe that estimates remain achievable and that perceived revenue headwinds are further out in the future given ACN's late-cycle characteristics. In our view, Accenture is a name to own headed into a period of economic weakness, due to its resilient revenue stream and operational leading indicators, as described below."

Morgan Stanley has a $66 PT on ACN.

At the time of posting, shares of ACN were trading pre-market at $50.14, down 6.09% from Wednesday's close.