Wedbush raises its Accenture (NYSE:ACN) price target from $165 to $180 (a 12% upside to yesterday’s close) ahead of earnings.
Firm sees a potential earnings upside and an FY18 guidance raise.
Wedbush says Accenture is well positioned for multiple tailwinds including overall IT budget strength and spending recovery in Financial Services.
New target assumes Accenture will trade at 25x FY19E EPS.
Firm’s revised guidance has revenue at $9.22B (consensus: $9.31B; company guidance: $9.15B to $9.4B) and EPS at $1.49 (consensus: $1.49).
Accenture will report Q2 earnings on Thursday.