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Fly News Breaks for June 10, 2019
ACN
Jun 10, 2019 | 07:23 EDT
Deutsche Bank analyst Bryan Keane raised his price target for Accenture to $190 from $180 ahead of the company's fiscal Q3 results on June 27. Overall, the analyst believes Accenture's demand environment remains steady but has "softened slightly" with particular weakness in traditional services. However, the company is 60% exposed to the "New" where demand remains strong, Keane tells investors in a pre-earnings research note. Further, recent bookings strength and the lapping of the U.S. federal contract wind downs bode well for a potential back half improvement in Financial Services and Health & Public Services growth rates, says Keane. He believes there could be upside to estimates and keeps a Buy rating on Accenture.
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