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TMCNet:  Bank of America Merrill Lynch Initiated Coverage Of Accenture (ACN)

[April 20, 2010]

Bank of America Merrill Lynch Initiated Coverage Of Accenture (ACN)

Apr 20, 2010 (SmarTrend News Watch via COMTEX) -- 4/20/2010- Bank of America Merrill Lynch (NYSE:BAC) analysts are initiating Accenture Plc (NYSE:ACN) with a buy rating and $53 price objective.

The bank said, "Accenture (ACN) is a play on IT spending growth through the #4 player with 3% share of the highly fragmented $680bn IT services market. ANC is a "chicken" tech in the sense that it enables an investor to play a tech recovery with limited downside risk based on the company's ability to effectively manage flexible costs. If successful, 7 9% longterm revenue growth, modest margin expansion, and 2% per year reduction in share base should power 12%+ long-term EPS growth. ACN's small share, large addressable market, proven ability to scale, and strong competitive position suggest headroom for growth. Client activity is picking up. Attractive risk/reward." Write to Chip Brian at cbrian@tradethetrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup

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