Selected stock price target news of the day - December 19th, 2023

By: Matthew Otto

 

Accenture’s Q1 2024 Highlights Growth and Strategic Investments

Accenture financial results for the first quarter of fiscal 2024 reported revenues reaching $16.2 billion, reflecting a 3% increase in U.S. dollars and a 1% rise in local currency compared to the same period in fiscal 2023. The GAAP operating margin was 15.8%, slightly down from 16.5% in the previous year, while the adjusted operating margin expanded by 20 basis points to 16.7%. New bookings soared to $18.4 billion, a 14% increase in U.S. dollars and a 12% rise in local currency. Furthermore, the company confirmed its business outlook for fiscal 2024, anticipating revenue growth of 2% to 5% in local currency. The GAAP EPS is projected to increase by 6% to 9%, ranging from $11.41 to $11.76, while adjusted EPS is expected to see a 3% to 6% increase, ranging from $11.97 to $12.32.

 

 Analyst Boosts Accenture’s Price Target Amid Bullish Outlook

  • JPMorgan analyst Tien-tsin Huang maintained an Overweight rating and raised the price target from $341 to $375.

 

Which Analyst has the best track record to show on ACN?

Analyst Arvind Ramnani (PIPER SANDLER) currently has the highest performing score on ACN with 12/14 (85.71%) price target fulfillment ratio. His price targets carry an average of $-5.84 (-1.91%) potential downside. Accenture stock price reaches these price targets on average within 71 days. 

 

 

 

Apple Pauses Watch Sales Due to Dispute

Apple has announced a temporary halt in the U.S. sales of its latest smartwatches, the Apple Watch Series 9 and Apple Watch Ultra 2. The decision follows a dispute with medical technology company Masimo over the Blood Oxygen feature incorporated into the devices. The U.S. International Trade Commission issued orders on October 26, restricting Apple’s ability to sell products featuring the Blood Oxygen technology due to alleged intellectual property disagreements.

The ITC’s rulings, if upheld, could prevent Apple and its affiliates from importing watches with the Blood Oxygen feature and the materials associated with it. Despite the stock market’s minimal reaction, Apple’s wearables, home, and accessories unit, which includes the Apple Watch, constitutes the company’s third-largest revenue source, generating $9.3 billion in the last quarter alone.

 

Analyst Bullish on Apple, Keeps Target Price

  • Wedbush analyst Daniel Ives maintained an Outperform rating and a target price of $250.

 

Which Analyst has the best track record to show on AAPL?

Analyst Krish Sankar (COWEN) currently has the highest performing score on AAPL with 18/20 (90%) price target fulfillment ratio. His price targets carry an average of $24.91 (12.77%) potential upside. Apple stock price reaches these price targets on average within 145 days.

 

 

 

FedEx Prepares Q2 Earnings Amidst Cost Control and Strategic Transformation

FedEx is set to release its fiscal second-quarter earnings report after Tuesday’s trading session. Wall Street analysts anticipate earnings per share of $4.19 on sales of $22.4 billion for the quarter ending Nov. 30. An improvement in profitability compared to the same period last year with $3.18 earnings per share on sales of $22.8 billion. Despite lower sales, FedEx is targeting an operating-profit margin of about 6.6%, up from 5.3% in the prior-year quarter. Bernstein analyst David Vernon highlighting the company’s transformative initiatives, such as DRIVE and Network 2.0, are crucial components of its strategy to control costs and boost productivity for long-term market confidence.

FedEx’s fiscal outlook for the year ending May 2024 projects earnings between $17 and $18.50 per share. This represents an upward revision from their June estimate of $16.50 to $18.50 per share.

 

Analyst Bullish Endorsement on FedEx

  • Bernstein analyst David Vernon rated a Buy rating and a target price of $340.

 

Which Analyst has the best track record to show on FDX?

Analyst Ken Hoexter (BAML) currently has the highest performing score on FDX with 23/30 (76.67%) price target fulfillment ratio. His price targets carry an average of $68.15 (26.03%) potential upside. FedEx stock price reaches these price targets on average within 335 days.

 

 

 

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