Analysts Are Upgrading These 5 Stocks

02. Accenture plc (NYSE:ACN)

Number of Hedge Fund Holders: 60

Accenture plc (NYSE:ACN) is an Irish company based in Dublin. It is a technology consultancy firm that enables customers to leverage advanced technologies such as artificial intelligence into their business processes and operations. On June 14, Piper Sandler analyst Arvind Ramnani revised their recommendation on Accenture plc (NYSE:ACN), upgrading it from Underweight to Neutral. Additionally, the analyst has increased the price target from $250 to $316.

ClearBridge Sustainability Leaders Strategy made the following comment about Accenture plc (NYSE:ACN) in its Q4 2022 investor letter:

“Accenture plc (NYSE:ACN) is a leading global professional services company that helps clients build their digital infrastructure and optimize their operations. We view Accenture as a resilient, high-quality business with consistent earnings and cash flow, a strong balance sheet and very attractive returns on capital. Secular drivers like cloud migration and digital transformation, as well as new, innovative technology deployments like data security, block chain, AI and machine learning position Accenture well for continued growth. It is also currently rolling out a suite of sustainability tools that offers a comprehensive view of a company’s goals, progress and performance across financial and ESG measures, so it is an enabler of ESG for its clients. We exited our position in software-as-a-service company Workday to fund the position, largely on better relative risk/reward, in our view.”