Goldman Sachs Closes Trade on Accenture
December 16, 2011 12:25 PM
Goldman Sachs is out with a research note this morning where is closes a previously recommended trade on Accenture (NYSE: ACN).
The Goldman Sachs analysts noted that they are closing their long ACN February $57.50 put recommendation at a gain.
They said, “The puts were recently offered at $4.90 (stock $53.73). On December 7, we recommended that investors buy the Feb-2012 $57.50 puts for $2.60 (stock $59.17) ahead of earnings given our analyst's concerns that guidance could disappoint.”
Goldman Sachs IT Services analyst Julio Quinteros noted that ACN trimmed its EPS forecast for FY12 driven entirely by FX assumptions.
Accenture plc is a management consulting, technology services and outsourcing company, which has offices and operations in more than 200 cities in 53 countries.
