Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Accenture, Shift4 Payments, Emerson, and Domino's Pizza.
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Accenture bumped 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.
Earlier this week, the company announced a $3 billion investment over three years in its Data & AI segment. The expansion includes new industry solutions, an AI Navigator for Enterprise platform, a Center for Advanced AI, and a doubling of 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 analyst now believes that Shift4's rapid volume growth is sustainable in the near to medium term, prompting it to raise its gross merchandise volume (GMV) forecast by approximately 15%. Additionally, Shift4 demonstrates significantly higher profitability as compared with its peers, which the analyst says 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.
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