Accenture initiated with a Reduce at HSBC

HSBC initiated coverage of Accenture (ACN) with a Reduce rating and $240 price target The firm believes the market is underestimating the artificial intelligence disruption risk facing Accenture. Early successful generative artificial intelligence use cases are likely to significantly boost employee productivity in Accenture’s core offerings, which will likely translate into pricing pressure over time, the analyst tells investors in a research note.