Accenture price target raised to $360 from $355 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Accenture to $360 from $355 and keeps a Market Perform rating on the shares. The company has an opportunity to become a leader in AI and generative AI more specifically, thought it will take time to impact signings and revenues, the analyst tells investors in a research note. The firm further contends that Accenture valuation looks “reasonable”, while noting that its “conservative/weak” guidance for FY24 last month was a “clearing event”.