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Fly News Breaks for June 29, 2018
ACN
Jun 29, 2018 | 06:08 EDT
BofA/Merrill analyst Jason Kupferberg downgraded Accenture to Neutral from Buy citing valuation following share outperformance over the past 12 months and maintained a $171 price target. Kupferberg is also concerned that Accenture's constant-currency growth has peaked, making further multiple expansion challenging.
News For ACN From the Last 2 Days
ACN
Mar 27, 2024 | 07:26 EDT
BofA analyst Jason Kupferberg lowered the firm's price target on Globant (GLOB) to $216 from $245 and keeps a Neutral rating on the shares after having hosted CEO Martin Migoya, CFO Juan Urthiague and CTO Diego Tartara for virtual investor meetings. Despite Accenture's (ACN) bigger-than-expected guidance cut last week, Globant expressed confidence in Q1 and FY24 guidance in spite of continued choppiness in the macroeconomic outlook, the analyst tells investors. Citing read-throughs from peers and compression in comp group multiples, the firm lowered its target, noting that its multiple reflects an unchanged 40% premium to the comp group.