Accenture price target lowered to $275 from $340 at Jefferies

Jefferies analyst Surinder Thind lowered the firm’s price target on Accenture to $275 from $340 and keeps a Hold rating on the shares. The firm has lowered estimates ahead of fiscal Q3 earnings, stating that while the midpoint of FY24 guidance “looks reasonable to us,” FY25 consensus estimates “look too high.” The firm expects the consulting business to remain challenged on discretionary spending weakness and not return to growth until “sometime in calendar 2025,” the analyst tells investors in a preview note.