Market Overview

UPDATE: Morgan Stanley Downgrades Accenture as Cloud Adoption Drives Rating Changes

Related ACN
Infosys Beats 4Q Earnings Estimates - Analyst Blog
Accenture, SAP AG Form Strategic Alliance - Analyst Blog
Accenture 2Q Profit Slumps, Misses Street View (Fox Business)

In a report published Wednesday, Morgan Stanley analyst Katy L. Huberty downgraded the rating on Accenture plc (NYSE: ACN) from Overweight to Equal-Weight.

In the report, Morgan Stanley noted, “We move to a Cautious view of our group as cloud computing adoption accelerates faster than expected. We downgrade ACN to EW, NTAP to EW, and TDC to UW on revenue and multiple risk from cloud adoption, and upgrade BRCD to EW and WDC to OW on better risk/reward. We favor AAPL, HPQ, WDC into 2014.”

Accenture closed on Tuesday at $77.09.

Posted-In: Katy L. Huberty Morgan StanleyAnalyst Color Downgrades Analyst Ratings

 

Most Popular

Related Articles (ACN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free