Morgan Stanley's Bold Bet On Accenture, Builds Buy Case
Portfolio Pulse from Anusuya Lahiri
Morgan Stanley analyst James Faucette has maintained a Buy rating on Accenture Plc (NYSE:ACN) with a raised price target of $369 from $355. Faucette favors ACN for its consistent M&A execution and ability to adapt to new technologies. Despite a conservative 2Q outlook, he expects a strong back-half ramp supported by M&A revenue. He also notes ACN's disciplined spending on M&A and strength in bookings, with Managed Services growing by 20% Y/Y and Consulting by 6% Y/Y. Faucette is confident in ACN's potential for organic growth through strategic acquisitions, even in a challenging macro environment.
December 20, 2023 | 8:11 pm
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Morgan Stanley analyst James Faucette reaffirms a Buy rating on Accenture with a higher price target of $369, citing strong M&A strategy and bookings growth as positive indicators for future performance.
The analyst's positive remarks and the raised price target suggest a bullish outlook for Accenture, which could lead to increased investor confidence and a potential short-term rise in the stock price. The emphasis on disciplined M&A spending and strong bookings growth are particularly encouraging signs for investors.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100