The Zhitong Finance app learned that Merrill Lynch analyst Jason Kupferberg raised the Accenture (ACN.US) rating from “sell” to “hold”, maintaining the target price of 261 US dollars. Kupferberg said Accenture's pre-order volume momentum will remain strong in the near future, but the stock's valuation kept him on the sidelines.

According to reports, Accenture has acquired Wolox, a cloud service company headquartered in Argentina, and the purchase amount has not yet been disclosed. The company said the deal would strengthen its cloud services business in Argentina and South America.

Last month, Accenture announced financial results for the first quarter of fiscal year 2021 and raised revenue expectations for the current fiscal year. The company earned $2.17 per share for the first quarter, up 8% year over year, and surpassed Wall Street expectations of $2.02. Revenue increased 4% year over year to US$11.76 billion, with Wall Street's general forecast of US$11.28 billion. New bookings increased 25% to $12.9 billion.