Accenture (ACN) Stock Gets ‘Overweight’ Rating at Pacific Crest
NEW YORK (TheStreet) -- Accenture (ACN) - Get Report stock coverage was initiated with an "overweight" rating and $129 price target at Pacific Crest Securities.
"We believe that Accenture's global footprint, multiyear client relationships, board-level connections, broad range of services (including digital), large scale and quality of its global delivery model are likely to sustain revenue growth in the near term," the firm wrote in an analyst note.
Additionally, Accenture has an important role in transforming companies as technology has become more strategic, according to Pacific Crest.
Multiple factors should drive the company's revenue growth in the near term, such as its independent business model, its best-in-class consulting capabilities, its marquee client base and its diverse revenue base, the firm noted.
The Dublin-based company provides management consulting, technology and outsourcing services.
Shares of Accenture are higher by 0.45% to $115.98 at the start of trading on Tuesday.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and growth in earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ACN