Is Accenture Stock Going to $364? 1 Wall Street Analyst Thinks So.

At times, an analyst's price target cut can be a bit deceiving. The move doesn't necessarily mean the pundit has turned bearish on the affected stock. Often, it's more of an adjustment that leaves the basic investment thesis intact.That was the dynamic behind a recent fair-value assessment chop to storied business consultancy Accenture's (NYSE: ACN) stock by a prognosticator following it. As the stock market was about to close for the weekend on Friday last week, Piper Sandler's Arvind Ramnani pulled the lever on his Accenture price target cut. In his opinion, the stock could go to $364, down notably from his previous price target of $396. However, he maintained his buy recommendation. Even at the reduced level, Ramnani is anticipating an upside of 18.3% over the next 12 months from its current price. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool