(CercleFinance.com) – Deutsche Bank renewed its buy recommendation on Accenture on Friday, while lowering its price target on the stock from $440 to $364.
In a research note, the broker indicates that it expects the announcement of “record” order intake when the American technology company publishes its quarterly results on June 23.
The broker estimates that this strength should continue until the end of the current financial year, the company having for the moment not mentioned any impact on its activity of the economic slowdown.
DB specifies, however, that it plans to closely monitor the evolution of the situation in Europe, where Accenture generates a third of its turnover, following the war in Ukraine.
And while he expects wage inflation not to ease anytime soon, the broker believes that won’t prevent the group from continuing to generate healthy profit margins.
Deutsche Bank attributes the reduction in its price target to the downward revision of the market valuation of the Accenture sector following the recent market correction.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
