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