BMO Comments On Accenture Ahead Of Its Quarterly Conference Call

In a research report issued today, BMO analyst Keith Bachman maintained a Market Perform rating on Accenture Plc (NYSE:ACN) with an $85 price target, ahead of Accenture’s quarterly conference call on Thursday.

Bachman wrote, “While we expect Accenture to post a solid Q relative to conservative guidance, we believe valuation upside is limited given Accenture’s FY2015/FY2016 revenue and earnings growth. We think Accenture is very well positioned in the IT services space, given the breadth of offerings and geographic coverage.”

The analyst added, “We think management has been very thoughtful about laying out a solid strategic focus for the next few years. We don’t think the cloud hurts Accenture’s business over the next few years,since many (if not most) medium to large organizations need help in transitioning to new IT architectures. However, we find the current valuation is not compelling, with upside limited to ~$90, in our view.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Keith Bachman has a total average return of 26.2% and a 70.5% success rate. Bachman is ranked #22 out of 3412 analysts.

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