Wedbush analyst Moshe Katri raised the firm’s price target on Accenture to $360 from $330 and keeps an Outperform rating on the shares. The firm expects Accenture to report muted Q1/2024 results, with likely reiteration of prior 2024’s 2%-5% C/C revenue growth guidance. This is rather typical given the seasonality associated with the months of November/December, characterized with poor visibility as it pertains to the upcoming year’s budget cycle and enterprise spending intentions. Having said that, following weaker than expected bookings from the prior quarter, Wedbush expects a quarter-over-quarter uptick in Q1/2024’s booking levels.
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