BMO Capital analyst Keith Bachman raised the firm’s price target on Accenture to $385 from $350 and keeps a Market Perform rating on the shares. The company’s Q1 earnings saw “solid bookings”, and while the management guided to continued revenue deceleration in the February quarter, the outlook is “potentially conservative”, the analyst tells investors in a research note. BMO adds that Accenture is likely at or near the bottom of revenue growth, expecting services demand to “broadly improve” in the second half of 2024.
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