Accenture price target raised to $375 from $340 at Stifel

Stifel analyst David Grossman raised the firm’s price target on Accenture to $375 from $340 and keeps a Buy rating on the shares after the company reported in-line Q4 results. The firm noted that Q1 and FY25 guidance were “largely in-line” with Wall Street estimates, and that underlying fundamentals appear to be stabilizing. Stifel added that its positive longer-term thesis remains unchanged, though the stock is likely range-bound pending cyclical recovery in shorter-term consulting bookings. Sequential headcount growth adds a positive to the story, with bookings more heavily indexed to larger/slower conversion deals, the analyst tells investors in a research note.