Accenture price target raised to $294 from $289 at Wells Fargo

Wells Fargo raised the firm’s price target on Accenture to $294 from $289 and keeps an Equal Weight rating on the shares. The positive reaction in the shares on Thursday is merited given Accenture’s solid Q2 results, punctuated by new bookings of $22B, and Wells Fargo likes the cost reduction plans, the analyst tells investors in a research note.