Accenture price target raised to $358 from $306 at Citi

Citi analyst Ashwin Shirvaikar raised the firm’s price target on Accenture to $358 from $306 and keeps a Buy rating on the shares. Citi’s “multi-part view” on artificial intelligence is that it is a net positive and Accenture is a winner, the analyst tells investors in a research note. In addition, the company is better-diversified than in past economic downturns and can “hold its own,” helped by bookings, the diversity of its offerings, acquisitions, beneficial currency moves and AI-related demand pickup, says the firm. It believes Accenture’s “massive” $3B AI investment is difficult for most companies to compete with.