$462 price target and outperformance rating

  • Shares of Accenture plc (NYSE:ACN) received a price target of $462 from Evercore. These are the details.

Shares of Accenture plc (ACN) received a price target of $462 from Evercore. And Evercore analyst David Togut added Accenture to the “tactical outperformance list” ahead of the company’s earnings.

Ahead of the company’s earnings report, the company was down 25% year-to-date. Yesterday, Accenture forecast its revenue for the current quarter to be above Wall Street estimates. But the company warned of a potential impact on its business if the conflict between Russia and Ukraine continues.

Accenture said it was shutting down operations in Russia due to the conflict. And Russia’s revenue was around $120 million in fiscal 2021, which is a small fraction of the company’s $50.53 billion in the year.

However, Accenture’s chief financial officer, KC McClure, noted that it was difficult to predict the impact of the war as it was still very early days. Going forward, the company expects current quarter revenue to be between $15.70 billion and $16.15 billion.

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Eleanor C. William