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Accenture to Acquire Blue Horseshoe; Street Says Buy
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Accenture to Acquire Blue Horseshoe; Street Says Buy

Global professional services company Accenture (ACN) recently announced that it has agreed to acquire supply chain management and strategy consulting firm Blue Horseshoe. The financial terms of the deal have been kept under wraps.

Following the news, shares of the company declined marginally in the extended trading session and closed at $316.77.

With this buyout, Accenture will gain access to Blue Horseshoe’s cloud-based supply chain management solutions, along with its warehouse management and transportation management systems. Post the buyout, Blue Horseshoe’s team of 349 people will join Accenture’s Supply Chain & Operations group.

The Supply Chain & Operations North America Lead at Accenture, Renato Scaff, said, “Blue Horseshoe’s deep fulfillment consulting experience and methodologies support Accenture’s vision for building customer-centric, resilient and responsible supply chains that benefit people, society and the planet.” (See Accenture stock chart on TipRanks)

Recently, Robert W. Baird analyst David Koning assigned a Hold rating to the stock with a price target of $298. The analyst’s price target implies downside potential of 5.9% from current levels.

Consensus among analysts is a Strong Buy based on 16 Buys and 4 Holds. The average Accenture price target of $323.06 implies upside potential of 2% from current levels.

Accenture scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained 38.5% over the past year.

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