ACN Stock: $395 Price Target From Deutsche Bank

By Amit Chowdhry ● Sep 18, 2021
  • The shares of Accenture Plc (NYSE: ACN) have received a $395 price target from Deutsche Bank. These are the details.

The shares of Accenture Plc (NYSE: ACN) have received a $395 price target from Deutsche Bank. And Deutsche Bank analyst Bryan Keane had increased the price target from $310 while maintaining a “Buy” rating on the company shares.

The adjusted price target was made ahead of Accenture’s results on September 23. Given the recent spike in digital IT services demand, the bookings have accelerated. 

As a result, Accenture ramped up hiring in order to meet demand. Going forward, Keane is seeing strong fundamental momentum for Accenture’s IT services.

While Accenture is facing tougher year-over-year comparisons, the current demand environment appears to be strong. Accenture will likely see less headwind due from reimbursable travel costs and M&A contributions.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.