Just helped a neighbor install some brackets on concrete walls. For the first time I used SDS bits and a suitable impact drill, wow huge difference. You can probably get by with standard concrete bits and a regular drill. Use plastic inserts and associated screws, I suggest getting stainless steel to avoid rusting.
And to your original question, yes, the stucco should be directly over the concrete, very similar to our concrete/block home. I would go with longer plastic inserts, so you have some grip in the concrete and not just the stucco.
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Pennsylvania, for 60+ years, most recently, Allentown, now TV. 
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