Accenture: Berenberg sees potential; raises target price
(CercleFinance.com) - Berenberg says it sees further potential in the Accenture stock, after its 14% rise since the broker upgraded it to "buy" last October.
In a research report issued this morning, the German broker consequently raised its target price for the share from 160 dollars to 190 dollars, meaning upside potential of 20%.
In the report, Berenberg says the IT consulting firm is uniquely positioned within the technology ecosystem to benefit from digital disruption and win market share.
The broker also said that it has identified Accenture as the leader in blockchain, expecting the company to "disproportionately" benefit from the adoption of this new technology, which it does not believe is priced in yet.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research report issued this morning, the German broker consequently raised its target price for the share from 160 dollars to 190 dollars, meaning upside potential of 20%.
In the report, Berenberg says the IT consulting firm is uniquely positioned within the technology ecosystem to benefit from digital disruption and win market share.
The broker also said that it has identified Accenture as the leader in blockchain, expecting the company to "disproportionately" benefit from the adoption of this new technology, which it does not believe is priced in yet.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.