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UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Accenture

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Analysts At Pacific Crest Begin Coverage On Accenture, Cognizant And Other IT Stocks
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In a report published Friday, Jefferies & Company reiterated its Hold rating on Accenture plc (NYSE: ACN), and slightly raised its price target from $65.00 to $66.00.

Jefferies noted, “We expect shares to trade up tomorrow given that F4Q consulting bookings were stronger than expected, F13 revs/EPS guidance was modestly above consensus, and management's tone remained upbeat. ACN's execution continues to be strong, but we were surprised that F13 bookings are forecasted to be only flat y/y, and valuation is likely nearing a realistic ceiling. Maintain Hold.”

Accenture plc closed on Thursday at $65.38.

Latest Ratings for ACN

DateFirmActionFromTo
Jul 2016Pacific CrestInitiates Coverage onOverweight
Jul 2016BarclaysMaintainsEqualweight
Jun 2016Credit SuisseDowngradesOutperformNeutral

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Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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