Accenture Inks Deal to Acquire Exton Consulting; Street Remains Bullish
Global professional services company Accenture (ACN) has agreed to snap up French firm Exton Consulting. The financial details of the agreement remained undisclosed.
Exton provides strategy and business management support to financial services firms in Europe. The acquisition bolsters Accenture’s expertise in enabling clients to accelerate and scale their transformation projects in the financial domain, while also providing them end-to-end solutions across strategy, design, technology, and operations.
Accenture’s Market Unit Lead for France and Benelux, Olivier Girard, said, “Our intent to acquire Exton Consulting is part of our overall growth strategy to expand critical skills and capabilities in strategic, high growth areas of the market.” (See Accenture stock chart on TipRanks)
Girard added, “This acquisition would cement Accenture’s standing as a leading Strategy and Consulting firm for Financial Services clients in France and beyond, taking our innovative end-to-end solutions to new levels of speed and scale.”
On June 10, Susquehanna analyst James Friedman reiterated a Buy rating on the stock and a price target of $325 (14.1% upside potential).
After interacting with Accenture’s top brass, Friedman is optimistic that Accenture is being driven increasingly by artificial intelligence, which the company sees as a core strength to innovate “atop the cloud.”
Consensus on the Street is a Strong Buy based on 7 Buys and 2 Holds. The ACN average analyst price target of $308.22 implies 8.2% upside potential. That’s on top of a 40.3% run-up in the share price over the past year.
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