RBC Capital analyst Daniel Perlin keeps an Outperform rating and $340 price target on Accenture after its Q4 results. The firm has been looking for green-shoots to appear in services, but this quarter did not offer any tangible evidence of this occurring, the analyst tells investors in a research note. RBC adds however that given the prolonged nature of sales cycles and weaker than expected backlog, Accenture is pivoting to faster growing project work, which is expected to gain momentum throughout the year while GenAI projects continue to accelerate.
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