TD Cowen analyst Bryan Bergin has maintained their bullish stance on ACN stock, giving a Buy rating today.
Bryan Bergin has given his Buy rating due to a combination of factors that highlight Accenture’s solid positioning in the market despite current uncertainties. Accenture’s recent performance showed growth near the upper end of expectations, and the company has raised its growth outlook for the fiscal year 2025. This indicates a strong underlying business, even though there are macroeconomic concerns and uncertainties, particularly with federal procurement pressures.
Despite these challenges, Accenture’s managed services and strategic role in the services sector provide a level of insulation against market volatility. The company’s valuation is also near its five-year lows, suggesting limited downside risk and potential long-term opportunities. While there is caution due to macroeconomic factors, Bergin believes that Accenture’s positioning and valuation support a Buy rating, acknowledging that the stock may remain stable in the near term until more clarity emerges.
Bergin covers the Technology sector, focusing on stocks such as Block, Adyen, and Cognizant. According to TipRanks, Bergin has an average return of 5.1% and a 51.71% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $415.00 price target.
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