Accenture's FCF Guidance Shows ACN Stock is Cheap - How to Play This?

Accenture PLC (ACN), the consulting and AI business processes company, reported higher quarterly free cash flow (FCF) and raised its FCF guidance for this year. This implies that ACN stock remains undervalued. One way to play this is short out-of-the-money puts to set a lower buy-in.

ACN is at $296.72 in midday trading on Monday, June 30. That is still well below its high of $398.25 on Feb. 5. This article will show why ACN has further to rise, almost 20% to $355 per share.