Accenture price target raised by $20 at TD Cowen, here’s why

TD Cowen raised the firm’s price target on Accenture to $320 from $300 and keeps a Market Perform rating on the shares ahead of the company reporting fiscal Q1 results on December 19. The firm takes “a modestly cautious stance” into results as healthy share price performance yields a valuation that would “seem to require a beat & raise performance,” though it believes “that may be premature” and anticipates FY24 guidance ranges to “largely be affirmed.”