Accenture: Jefferies still on hold
(CercleFinance.com) - On Thursday, Accenture raised its sales growth forecast for 2024/2025.
The company now expects annual sales to rise by 4% to 7% at constant exchange rates for the current fiscal year, which to end-May, compared with 3% to 6% previously.
Following this announcement, Jefferies confirms its Hold rating on the stock, with a target price of $385.
We have raised our adjusted EPS estimate for FY 2025 by $0.16 to $12.87, on the back of stronger revenue growth (+7.2% vs. +4.8% previously), which puts us above forecasts by +4% to 7% y-o-y, it says.
The analyst believes that results were solid, with long-term transactions growing faster than expected, boosting growth in both consulting and managed services.
Organic growth below that of peers, although a stock valuation above that of peers, keeps us on Hold, Jefferies adds.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The company now expects annual sales to rise by 4% to 7% at constant exchange rates for the current fiscal year, which to end-May, compared with 3% to 6% previously.
Following this announcement, Jefferies confirms its Hold rating on the stock, with a target price of $385.
We have raised our adjusted EPS estimate for FY 2025 by $0.16 to $12.87, on the back of stronger revenue growth (+7.2% vs. +4.8% previously), which puts us above forecasts by +4% to 7% y-o-y, it says.
The analyst believes that results were solid, with long-term transactions growing faster than expected, boosting growth in both consulting and managed services.
Organic growth below that of peers, although a stock valuation above that of peers, keeps us on Hold, Jefferies adds.
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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.