- "We believe recent growth acceleration in consulting revenues and consulting bookings are sustainable given the company’s exposure to digital work (roughly 20% of FY15’s revenues, posting 20%+ growth), while the rest of Accenture’s (ACN - unchanged) revenue base is posting mid-single digit growth," writes Cowen's Moshe Katri, upgrading to Outperform and hiking his target by $20 to $110.
- Katri adds digital could account for nearly 30% of Accenture's revenue by FY17 (ends Aug. '17) on an organic basis. The company has been busy acquiring smaller firms (I, II, III) to expand its digital reach.
- Shares are near breakeven in spite of a 0.8% drop for the S&P. They remain within $1.50 of an all-time high of $97.95 (set last Tuesday).