Deutsche Bank Positive On Accenture (ACN)

Deutsche Bank is positive on Accenture Plc ACN after IBM IBM reported earnings yesterday. It has a Buy rating and a $56 price target on shares. In an to clients, Deutsche Bank writes, "IBM is Accenture's closest peer within the global consulting and IT Services segment. Last night, IBM reported very impressive services signings of $22.1B which beat DB's expectations ($18.0B). We see these results as a bullish indication of demand trends for Accenture." Shares of ACN gained 35 cents yesterday to close at $50.35, a gain of 0.7%.