Accenture price target raised to $409 from $377 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Accenture to $409 from $377 and keeps a Buy rating on the shares ahead of the company’s Q2 report on March 21. Demand for IT Services continues to remain tepid in the face of macro uncertainty, and Deutsche does not any significant improvement in the near term, the analyst tells investors in a research note. As such, the firm expects Accenture will lower overall revenue growth expectations and guide Q3 revenue growth in the range of down 1% to up 3% year-over-year, below Street expectations. However, it views the company as the “gold standard in the industry and one of the best positioned companies going forward.”