Accenture: Goldman Sachs upgrades to buy
(CercleFinance.com) - On Friday Goldman Sachs upgraded on Accenture shares from 'neutral' to 'buy', believing that the technology group is the best positioned to benefit from a recovery in corporate capex.
In a sector study, the analyst judges that the forecasts provided by the company for its current FY 2024/2025 already incorporate the scenario of an economic slowdown.
In its opinion, the company could well outperform Wall Street forecasts thanks to an improving economic climate.
Goldman also argues that the quality of the company's activities in generative AI could be accretive to the financial statements as from FY 2025/2026.
It has therefore raised its target price from $370 to $420 (pmt: $362, +1%).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a sector study, the analyst judges that the forecasts provided by the company for its current FY 2024/2025 already incorporate the scenario of an economic slowdown.
In its opinion, the company could well outperform Wall Street forecasts thanks to an improving economic climate.
Goldman also argues that the quality of the company's activities in generative AI could be accretive to the financial statements as from FY 2025/2026.
It has therefore raised its target price from $370 to $420 (pmt: $362, +1%).
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.