Accenture price target lowered to $365 from $419 at BofA

BofA lowered the firm’s price target on Accenture to $365 from $419 and keeps a Buy rating on the shares ahead of the company’s fiscal Q3 report due on June 20, stating that the firm anticipates roughly in-line constant currency revenue and EPS. However, Accenture is “not immune to the current malaise in client discretionary spending,” says the firm, which “would not be surprised to see” the top end of the FY24 revenue growth guidance lowered.