Jefferies Raises ACN PT To $60

Jefferies has raised the Price Target on Accenture PLC ACN from $58.00 to $60.00. According to Jefferies, “On the heels of another stellar booking Q and entering the seasonally stronger FY second half, we feel ACN should be able to at least meet its upped guidance of 11-14pct constant currency growth (up from 8-11pct). While margin expansion seems somewhat elusive given higher short term costs required to ramp revenue quickly, we believe higher revenue levels should lead to margin improvement down the line.” ACN has a Buy Rating and closed at $51.96 yesterday.