Accenture upgraded to Neutral ahead of Q3 earnings
Accenture (NYSE:ACN) shares rose more than 1% pre-market today after Piper Sandler upgraded the company to Neutral from Underweight and raised its price target to $316.00 from $250.00, as InvestingPro reported in real time.
Earlier this week, the company announced a $3 billion investment over three years in its Data & AI practice. The expansion includes new industry solutions, the AI Navigator for Enterprise platform, a Center for Advanced AI, and doubling their AI talent to 80,000 people.
The company is set to report its Q3/23 earnings on June 22. Street estimates stand at $3.01 for EPS and $16.49B for revenues.
Shift4 Payments upgraded to Outperform
SVB MoffettNathanson upgraded Shift4 Payments (NYSE:FOUR) to Outperform from Market Perform and raised its price target to $80.00 from $75.00.
The upgrade was based on several key factors. Firstly, the firm now believes that Shift4’s rapid volume growth is sustainable in the near-to-medium term, prompting it to raise its GMV forecast by approximately 15%. Additionally, Shift4 demonstrates significantly higher profitability compared to its peers, which is a critical advantage in today’s business landscape. The firm also sees a path toward gradual improvement in Shift4’s FCF conversion.
2 more upgrades
HSBC upgraded Emerson Electric (NYSE:EMR) to Buy from Hold and raised its price target to $100.00 from $79.00.
Domino’s Pizza (NYSE:DPZ) shares rose around 2% pre-market today after Stifel upgraded the company to Buy from Hold and raised its price target to $350.00 from $320.00.
