Accenture downgraded to Neutral from Buy at Rothschild & Co Redburn

Rothschild & Co Redburn downgraded Accenture (ACN) to Neutral from Buy with a $250 price target The company’s fiscal Q3 organic revenue growth rate of 5% indicates that while it is benefiting from generative artificial intelligence on consulting, there may be other areas of the business where growth is slowing to offset this. Accenture’s near-term revenue growth will also see a two percentage point headwind from the slowing pace of procurement and cancellation of contracts by the federal government, the analyst tells investors in a research note.