Accenture price target raised to $340 from $335 at RBC Capital

RBC Capital raised the firm’s price target on Accenture to $340 from $335 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company’s bookings growth is rebounding, helped by strength in Managed Services, the analyst tells investors in a research note. The firm added that Accenture has also maintained the midpoint of its FY23 reported revenue guidance target, with the lower anticipated FX headwinds offset by a tightening of local-currency revenue growth towards the lower end of the prior range.