Accenture price target raised to $300 from $295 at Cowen

Cowen analyst Ashwin Shirvaikar raised the firm’s price target on Accenture to $300 from $295 and keeps an Outperform rating on the shares. The analyst said near-term caution on growth and margin yields a second half ramp that may be hard to underwrite as 2023 enterprise IT budgets await finalization. However, the company’s growth trajectory and diversification at unmatched scale remains attractive as a relative shelter vs. tech services alternatives.