Accenture upgraded to Neutral from Underweight at Piper Sandler

As previously reported, Piper Sandler analyst Arvind Ramnani upgraded Accenture to Neutral from Underweight with a price target of $316, up from $250. Piper Sandler expects Accenture to continue to see bookings and revenue growth trends in its managed services business and could start to see stabilization in its consulting business, the analyst tells investors in a research note. The firm expects Accenture to tighten the FY23 guidance when they report next week and feels consensus estimates for FY24 are reasonable.