Barclays Capital Reiterates Equal-Weight, Raises PT On Accenture On Strong Demand
In a report published Friday, Barclays Capital analyst Darrin D. Peller reiterated an Equal-Weight rating on Accenture Plc (NYSE: ACN), and raised the price target from $89.00 to $92.00.
In the report, Barclays Capital noted, "In F2Q15, revenue grew 5% Y/Y in USD and 12% in LC to $7.49BN (vs. our estimate for $7.32BN; consensus of $7.38BN). Better than expected top-line growth was broad-based, with CM&T and H&PS showing notable strength (15% Y/Y LC growth for both segments). While Resources was the weakest group (growing 6% LC Y/Y), we note the acceleration from weaker growth in prior quarters was a driver of sequential improvement. Margins expanded 30bps Y/Y, driven by lower than expected SG&A and higher utilization (91% vs. 87% in F2Q14). EPS of $1.08 was 1c lower than our estimate but 1c higher than consensus."
Accenture closed on Thursday at $94.17.
Latest Ratings for ACN
Jan 2015 | Citigroup | Maintains | Neutral | |
Dec 2014 | Barclays | Maintains | Equal-weight | |
Dec 2014 | Citigroup | Maintains | Neutral |
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