Morgan Stanley analyst James Faucette downgraded Accenture to Equal Weight from Overweight with a price target of $300, down from $382. The analyst sees potential valuation compression for the shares from the company’s decelerating cloud growth, longer-than-expected time for generative artificial intelligence revenue contribution, and more acquisition spend. The relative outperformance versus other IT services names reduces Accenture relative attractiveness, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACN:
- Accenture initiated with a Neutral at Goldman Sachs
- Accenture price target lowered to $350 from $375 at BMO Capital
- Accenture’s overall consulting business returned to growth in Q3, Argus says
- Accenture price target lowered to $293 from $294 at TD Cowen
- Accenture price target raised to $350 from $340 at Citi